Sec. 9-10.702.  Eligibility for incentives.
   A housing development that meets all of the criteria (a) through (d) below is eligible for an incentive described in Sec. 9-10.703.
   (a)   The development will be built on a site that is:
   (1)   An existing parcel that is less than 1/2 acre in size, including an existing parcel of less than 1/2 acre that is developed in combination with one or more contiguous parcels; or
   (2)   A parcel listed in the inventory of underutilized sites with redevelopment potential in the Housing Element of the Thousand Oaks General Plan;
   (b)   All of the housing, with the exception of a managers unit (if any), shall be provided to extremely low-, very low- or low-income households at affordable rents or affordable housing costs;
   (c)   All of the housing shall be multiple- family housing developed at a minimum density of 20 dwellings per net acre;
   (d)   The development density shall comply with any law, including Government Code 65863, that restricts the City from allowing a parcel to be developed at a lower density than needed to accommodate the City’s share of the regional housing need;
   (e)   The project shall be subject to a recorded agreement between the City and a housing developer specifying the income level of the occupants and guaranteeing the affordability of the units.
(§ 1, Ord. 1568-NS, eff. March 9, 2012)