6-5-3: CONSTRUCTION OF AFFORDABLE HOUSING IN LIEU OF FEES:
The affordable housing mitigation/incentive agreement form (attached as exhibit B to ordinance 379, series of 2006) is hereby adopted by the town council of the town of Winter Park as the standard form of agreement to be entered into by the town with each and every property owner/developer within the town who chooses to participate in the affordable housing incentive program approved by the town. The town's incentive program will allow the deduction of the gross square footage of the affordable housing unit from the gross square footage of the entire structure prior to calculating the three dollar ($3.00) per square foot affordable housing fee, and in addition shall provide an incentive of up to ten thousand dollars ($10,000.00) per unit to any owner/developer who constructs and leases an affordable housing unit within his project. However, should the use of the affordable housing unit ever change, the incentive must be repaid to the town as well as the affordable housing fees for the affordable housing unit gross square footage which were waived as part of the affordable housing mitigation/incentive agreement. (Ord. 498, Series of 2016)