(A) All housing units built pursuant to this division shall provide a minimum of 20% of all units as affordable to extremely-low income, very-low income, or low income households as defined and periodically updated by the U.S. Department of Housing and Urban Development for Ventura County. Developers of housing under this division are not eligible to request to make in-lieu affordable housing payment instead of providing affordable housing units.
(B) All residential developments built pursuant to this Division 7C are subject to the City of Oxnard Inclusionary Housing Ordinance.
(C) The developer shall establish and at all times maintain a written list of Oxnard residents qualified to purchase or rent each of the affordable units. The developer shall offer the affordable units to qualified Oxnard resident buyers or renters on the waiting list first and give preference to them until there are no qualified Oxnard residents on the waiting list. At such time, the developer may make units available to all other prospective buyers or renters meeting the income limitations for such units.
(D) Affordability restrictions - Each affordable unit must be restricted for a minimum of 55 years for rental units and 45 years for owner-occupied units. The deed restriction or affordable housing agreement shall be recorded prior to, or concurrently with, final map recordation or, where the qualified housing development does not include a map, prior to issuance of a building permit for any structure on the site. The Director is hereby authorized to enter into the agreements authorized by this section on behalf of the city upon approval of the agreements by city attorney for legal form and sufficiency.
(E) Manager's unit - For developments which are 100% affordable the following shall apply. For a development with between ten and 40 units, one manager's unit is exempt from the affordability requirement. For a development between 41 and 80 units, up to two manager's units are exempt from the affordability requirement. For development of 81 or more units, up to three manager's units are exempt from the affordability requirement. Developments that provide nine or less affordable units do not obtain an exemption for a manager unit.
(Ord. No. 2999)