The applicant of a project subject to the provisions of this chapter must submit an Affordable Housing Plan with a phasing plan which shall indicate the scheduling and phasing of construction of the required affordable units. The Affordable Housing Plan requirements can be found in § 20.40.090. Additionally, projects pursuant to this chapter must comply with the following standards.
A. All affordable units in a residential project or phases of a residential project shall be constructed prior to the issuance of a certificate of occupancy for the project or phase of the project.
B. All affordable units shall be reasonably dispersed throughout the project site unless approval for an off-site location has been granted.
C. The affordable units shall contain the same number of bedrooms and bedroom size as the market rate units in the project. The unit mix for bedroom count shall be proportional to the unit mix of market rate units in the project.
D. The materials and finished quality of the affordable units shall be comparable to those in market rate units.
E. Affordable units shall have the same access to amenities as the market-rate units, including common spaces, parking, laundry rooms, fitness centers, and other facilities in the residential development.
F. Affordable units required under this chapter shall be retained as affordable units as follows:
1. For sale units: Forty-five years or until sold or transferred with an equity share, whichever occurs first.
2. Rental units: Fifty-five years.
G. The affordability period begins upon the initial sale or rental of the unit.
(Ord. 1242, passed 8-15-23)