Prior to entering into an Inclusionary Housing Agreement, at the request of the developer of a for-sale residential project, the Planning, Public Works and Environmental Services Director will assist developers in estimating the calculations of maximum affordable purchase prices based on the assumptions provided in this ordinance. These estimates shall only be for the purpose of projecting the feasibility of the project and shall not be binding, as prevailing conditions in the housing market and fluctuations in interest rates that may affect the final calculations of affordable purchase prices. The timing and procedures for final calculations of affordable purchase prices shall occur pursuant to the provisions of this ordinance.
(Ord. 1451, eff. January 1, 2015)