(A) Purpose. The purposes of providing incentives for the inclusion of affordable housing in new or substantially enlarged residential developments are:
(1) To provide affordable housing as a portion of certain new development within the community;
(2) To implement the affordable housing goals, policies, and objectives contained in the City of Camden's Comprehensive Plan;
(3) To ensure the opportunity of affordable housing for employees of businesses that are located in or will be located in the community; and
(4) To maintain a balanced community that provides housing for people of all income levels.
(B) Density incentives. The following incentives may be applied for and pursued by the developer of a multi-family housing development that includes more than ten housing units.
(1) One additional fair market value dwelling unit may be added for every one affordable dwelling unit included in a housing development.
(2) In no case shall the overall development density, including dwelling units added through density incentives, exceed a factor of 1.25 of the by-right development density as determined by the zoning district in which the development is located.
(C) Compliance. An affordable housing development shall comply with the following criteria:
(1) Affordable housing units in an affordable housing development shall be mixed with, and not clustered together or segregated in any way from, market-rate units.
(2) If the affordable housing development agreement contains a phasing plan, the phasing plan shall provide for the proportional development of affordable housing units concurrently with the market-rate units. No phasing plan shall provide that the affordable housing units built are the last units in an affordable housing development.
(3) The exterior appearance of affordable housing units in an affordable housing development shall be made similar to market-rate units by the provision of exterior building materials and finishes substantially the same in type and quality.
(D) Affordable housing development agreement.
(1) Prior to the issuance of a building permit for any units in an affordable housing development or any development in which an affordable housing incentive is requested, the applicant shall have entered into an affordable housing development agreement with the city. The development agreement shall set forth the commitments and obligations of the city and the applicant.
(2) The applicant shall execute any and all documents deemed necessary by the city in a form to be established by the City Attorney, including, without limitation, restrictive covenants, deed restrictions, and related instruments (including requirements for income qualification for tenants of for-rent units) to ensure the continued affordability of the affordable housing units in accordance with the provision of these incentives. These shall include, but are not limited to the following assurances:
(a) The affordable housing units shall be leased to and occupied by eligible households.
(b) The affordable housing units shall be leased at rent levels affordable to eligible households for a period of 30 years from the date of the initial certificate of occupancy.
(c) Subleasing of affordable housing units shall not be permitted without the express written consent of the City Planner.
(Ord. 15-002, passed 2-24-15)