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C. Inclusionary Units may be of smaller size than the market units in the project. In <br /> addition, Inclusionary Units may have fewer interior amenities than the market rate <br /> units in the project. However, the City may require that the Inclusionary Units meet <br /> certain minimum standards. These standards shall be set forth in the Affordable <br /> Housing Agreement for the project. <br /> D. Inclusionary Units shall remain affordable in perpetuity through recordation of an <br /> Affordable Housing Agreement as described in Section 17.44.060 of this Chapter. <br /> E. All Inclusionary Units in a project shall be constructed concurrently within or prior to <br /> the construction of the project's market rate units. <br /> F. For purposes of calculating the Affordable Rent or Affordable Sales Price of an <br /> Inclusionary Unit, the following household size assumptions shall be used for each <br /> applicable dwelling Unit Type: <br /> HUD Income Category <br /> Unit Size By Household Size <br /> Studio Unit One Person <br /> One Bedroom Unit Two Persons <br /> Two Bedroom Unit Three Persons <br /> Three Bedroom Unit Four Persons <br /> Four or more Bedroom Unit Five or more Persons <br /> G. The City's adopted preference and priority system shall be used for determining <br /> eligibility among prospective beneficiaries for affordable housing units created <br /> through the Inclusionary Zoning Ordinance. <br /> Section 17.44.060. Affordable Housing Agreement <br /> An Affordable Housing Agreement shall be entered into by the City and the Project <br /> Owner. The Agreement shall record the method and terms by which a Project Owner <br /> shall comply with the requirements of this Chapter. The approval and/or recordation of <br /> this Agreement shall take place prior to final map approval or, where a map is not being <br /> processed, prior to the issuance of building permits for such lots or units. <br /> The Affordable Housing Agreement shall state the methodology for determining a unit's <br /> initial and ongoing rent or sales and resale price(s), any resale restrictions, occupancy <br /> requirements, eligibility requirements, City incentives including second mortgages, <br /> recapture mechanisms, the administrative process for monitoring unit management to <br /> assure ongoing affordability and other matters related to the development and retention of <br /> the inclusionary units. <br /> Page 6 <br /> 1NCLUSIONARY ZONING ORDINANCE CC appr.doc/SFE <br /> 8/18/06 3:56 PM <br />