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In recognition that the inclusion of affordable housing in any development will cause the developer to forego income that otherwise might be available from the development of market rate housing, it is the intent of Council that certain programs be developed to minimize the burden on developers. Such programs may include, but need not be limited to, modifications of Building Code requirements; provision of land for affordable developments, at below-market rates; and the provision of credits against business income and receipts tax. It is the intent of Council that legislation to implement such programs will be introduced into Council on or before the effective date of this Chapter. 5
Amended, Bill No. 110758 (approved December 21, 2011), effective May 1, 2012.