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IZO in effect on February 21, 2025 (the date a complete preliminary application for the Project <br /> was submitted) for the Project and is provided in lieu of paying the City's Affordable Housing Fee <br /> for the Project. <br /> NOW,THEREFORE, in consideration of the mutual covenants, agreements, and <br /> conditions contained herein, City and Project Developer agree as follows: <br /> 1. Project Developer shall provide for the construction of forty-eight(48) attached JADUs <br /> which shall, if rented, be available and restricted to Low Income Households with <br /> incomes up to 80% AMI (collectively, the "JADU Inclusionary Units") in accordance with <br /> the following: <br /> Unit Type Lower Income <br /> (80% AMI) <br /> JADU 48 <br /> A. Unit Location. Project Developer shall construct the 48 required JADU <br /> Inclusionary Units in the locations identified in the approved Inclusionary Unit <br /> Map (Attachment 2). For the purpose of flexibility in location, Attachment 2 <br /> shows a total of fifty-seven (57) lots, all of which would be suitable to <br /> incorporate JADU Inclusionary Units; the parties acknowledge and agree that <br /> only 48 JADU Inclusionary Units are required hereunder. The Community and <br /> Economic Development Director may administratively approve changes in the <br /> location of the JADU Inclusionary Units provided that he or she finds that the <br /> units are reasonably dispersed as required by PMC Section 17.44.050.A. <br /> B. Unit Size. All 48 JADU Inclusionary Units shall be at least one hundred seventy <br /> (170) square feet, consistent with the approved Site Development Review, and <br /> shall have a kitchenette and bathroom facility. The City Council, in approving <br /> this Agreement, hereby finds that the JADU Inclusionary Units is a permitted <br /> alternative method of meeting the purpose set forth in PMC Chapter 17.44.020 <br /> and the applicable requirements of the IZO. <br /> C. Regulatory Agreements. Prior to transferring ownership to a buyer of a single <br /> family home which includes a JADU Inclusionary Unit, Project Developer shall <br /> require that the initial buyer and the City execute a Secondary Unit Regulatory <br /> Agreement and Declaration of Restrictive Covenants (the "JADU Regulatory <br /> Agreement") in substantially the form attached hereto as Attachment 3. The <br /> Regulatory Agreements shall restrict all JADU Inclusionary Units, if rented, to <br /> Low Income Households. Upon the initial sale of the single family home with a <br /> JADU Inclusionary Unit and the recordation of the Regulatory Agreement <br /> against such home, Project Developer shall have no further obligations or <br /> liabilities with respect to such JADU Inclusionary Unit, including but not limited <br /> to, monitoring the compliance with this Agreement or the Regulatory Agreement <br /> by the owner of the home or any successor thereto, and responsibility for <br /> compliance with the Regulatory Agreement as to that JADU Inclusionary Unit <br /> shall thereafter be the responsibility of the then single-family home owner. <br /> Project Developer shall remain responsible for compliance with this Agreement <br /> as to all other JADU Inclusionary Units that are included within single-family <br />