RES 96088 - Laserfiche WebLink

17.36.070 'the filing of multiple final maps and/or and with respect to any one-bedroom changes in ownership, for purposes of unit, affordable ren~ means a monthly this Section a 'pwjectH is the entirety rent which does not exceed thirty per- of a project for which the Council cent (30%)of one-twelfth (t/t,.)of the initially granted growth management maximum household income at which a approval. An *approved reallocation household of two (2) people qualify as request' shall be a modification to the a low-income household as stated in originally approved schedule either as this subsection-For purposes of this requested by the developer or as-modi- Chapter and with respect to any two- fled by the City Council if the develop- bedroom unit, affordable rent means a er acquiesced in the modified realloca- monthly rent which does not exceed tion. There shall be no limit to the thirty percent (30%) of one-twelfth number of times the City Council may (ilia) of the maximum household in- approve requests for reallocation which come at which a household of four (4) would shift units to an earlier year(s) persons would qualify as a low-income than that approved. (Ord. 1614 § 2, household within the meaning of this 1993) subsection. 2. Units designated for lower-income households shall be of comparable size 17.36,080 Lower-income project. and quality as other units in the projecL A. A lower-income pwject shall be a ' 3. A projea developer shall enter project having a minimum of twenty into an agreement which shall be re- five percent (25%) of the total units corded and run with the land, and this reserved for households qualifying for agreement shall provide that an annum low-income housing assistance as de- compliance statement be submitted to fined for the primary metropolitan the City for its review. statistical area, including the County, B. A developer proposing a pwject by the Department of Housing and meeting the criteria set forth in this Urban Development- Units must be Section may apply, for growth manage- reserved for lower-income households merit appwval at any time during the · for a period of at least twenty five (25) year and with only such prior approval and or project information as the City years. 1. HUD regulations for the qualifica- Council may decide is sufficient to tions of households as lower-income, provide it with the information it needs the size of unit in relation to household to review the projects eligibility and size, and all other rules and regulations value to the community. Following a except for rent shall govern those units public hearing, the City Council may set aside for lower-income households- grant the project growth management Affordable rents for units designated appwval for such year or years as it for lower-income households shall be sees fit, consistent with General Plan charged. For purposes of this Chapter goals and policies. 464-2 ~ (Pie. a~tm S-94) ~