Ways developers can meet affordable housing requirements

(a) The developer may satisfy the affordable housing requirements by doing any of the following: (1) Construct and sell affordable for-sale units on-site; (2)Construct and sell affordable finished lots on-site, but only if the entire project consists of finished lots; (3) Construct and sell affordable for-sale units off-site, but within a fifteen-mile radius of the project site; (4) Construct and rent affordable rental units on-site, or off-site, within a fifteen- mile radius of the project site; (5) Convey to the County or, at the County’s direction to a non-profit entity, developable land within a fifteen-mile radius of the project site. The land to be conveyed shall be acceptable to and approved by the OHCD, with availability of road access, water, electricity, telephone service and without unusual site conditions that make it difficult to build a home, to accommodate the number of homes the developer would be required to provide if its required credits were earned by selling completed dwelling units to households with a family size of four earning 110% of median income per section 11-7(a); developers conveying finished lots with road access, drainage, water, electricity and sewer when sewer lines are available, shall be entitled to a 50% reduction of the affordable housing requirement. (6) Convey to the County or, at the County’s direction to a non-profit entity, infrastructure within a fifteen-mile radius of the project site. The value of the infrastructure to be conveyed shall be determined by appraisal and shall be not less than 100% of the sales price of the affordable homes that the developer would be required to provide level if its required credits were earned by selling completed dwelling units to households with a family size of four earning 110% of median income per section 11-7(a). Any infrastructure provided must be directly related to the future provision of affordable housing; (7) Obtain excess credits from another developer pursuant to section 11-15. (b) The affordable unit or finished lot shall be completed with road access, drainage, water, electricity, sewer lines, if required, and telephone, and, in the case of finished lots, shall not have unusual site conditions that make it difficult to build a home. (c) Affordable housing credits. The developer shall earn affordable housing credits as follows: (1) Sale of completed dwelling units affordable to qualified households earning 120-140% of median: 0.5 credit per unit; (2) Sale of completed dwelling units affordable to qualified households earning 100-120% of median: 1.0 credit per unit; (3) Sale of completed dwelling units affordable to qualified households earning 80- 100% of median: 1.5 credits per unit; (4) Sale of completed dwelling units affordable to qualified households earning less than 80% of median: 2.0 credits per unit; (5) Construction and rental of rental units affordable to qualified households earning 100-120% of median: 0.5 credit per unit; (6) Construction and rental of rental units affordable to qualified households earning 80-100% of median: 1.0 credit per unit; HOUSING §11-5 (7) Construction and rental of rental units affordable to qualified households earning 60-80% of median: 1.5 credits per unit; (8) Construction and rental of rental units affordable to qualified households earning less than 60% of median: 2.0 credits per unit; (9) Sale of finished lots affordable to qualified households earning no more than 100% of median: 0.5 credit per lot; (10) Sale of finished lots affordable to qualified households earning no more than 80% of median: 1.0 credit per lot; (11) Conveyance of land to a nonprofit corporation or governmental agency for construction of for-sale housing units affordable for qualified households earning no more than 80% of the median, or construction of for-rent housing units affordable for qualified households earning no more than 60% of the median, subject to the approval of the administrator of the feasibility, location, and type of project. After the approval of the administrator, the credits are earned upon the conveyance of the land: 1.0 credit per unit; (12) A developer shall ensure that each affordable housing unit for which credit was earned or awarded shall comply with resale restrictions established by section 11-14. (d) Affordable housing percentage requirements. (1) If the developer will satisfy its affordable housing requirements by constructing completed dwelling units for sale or rental, the affordable prices at which the units are sold shall be such that: (A) A minimum of 20% of the required affordable housing credits are earned at a 1 or greater credit per unit level; (B) A minimum of 30% of the required affordable housing credits are earned at a 1.5 or greater credit per unit level; and (C) A minimum of 40% of the required affordable housing credits are earned at the 2 per unit credit level. (2) If the developer will satisfy its affordable housing requirements by offering finished lots, the lots shall be sold at a range of affordable prices, such that: (A) A minimum of 20% of the required affordable housing credits are earned at a .5 or greater per unit credit level; and (B) A minimum of 20% of the required affordable housing credits are earned at the 1.0 per unit credit level. (e) The units shall be constructed so that the unit size, the number of bedrooms, and the bedroom sizes of the affordable units are respectively consistent to the unit size, the number of bedrooms, and the bedroom sizes of the market units. (1998, ord 98-1, sec 2; am 2005, ord 05-23, sec 2; am 2005, ord 05-111, sec 3; am 2006, ord 06-119, sec 1; am 2007, ord 07-109, sec 2; am 2011, ord 11-38, sec 1; ord 11-84, sec 2; am 2012, ord 12-81, sec 1.)11-5