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Except as otherwise stated herein, affordable units qualifying a residential development for a density bonus shall be subject to the requirements of Section 9-10.303, (Standards for Inclusionary Units), and Article 6 of this chapter (Compliance Requirements for Affordable Units).
(a) Term of Affordability. Rental and ownership very low-income and lower-income affordable units that qualify a residential development for a density bonus shall remain affordable to the designated income group for a minimum period of thirty (30) years. A longer period of time may be specified if required by any construction or mortgage financing assistance program, mortgage insurance program, or rental subsidy program applicable to the residential development. Moderate-income affordable units shall remain affordable to the designated income group for a minimum period of forty-five (45) years.
(§ 1, Ord. 1506-NS, eff. October 9, 2008)