RES 12523 - Laserfiche WebLink

H. All Affordable units shall be rented in accordance with the City's Preference System, as may be amended, with the most current version set forth in Attachment 2. I. Once each year, the Developer (or the Developer's successor in interest) shall provide the City a report detailing the average annual income of tenants occupying the Affordable units, the number of one, two, three and four person households occupying the Affordable units, the number of vacancies and new rentals during the year for the Affordable units and the current rent structure for all 350 units. J. The obligations shall commence with completion of buildings authorized by PUD 85-08-12D and remain for perpetuity as long as those buildings approved by the PUD remain in service. K. In recognition of the community need for the Affordable units included in this Agreement and the high proportion of units which are Affordable, the Project is exempt from paying the City Lower Income Housing Fee. 2. The Developer, with City consultation, shall assume all responsibility to market the Affordable units. Marketing shall be in accordance with City eligibility and income guidelines and shall include conducting a public drawing, if necessary, to allocate Affordable units in-conformance with the City's Preference System as that Preference System exists-at the time that the drawing is conducted. A public drawing will be necessary if the number of project applicants exceeds the number of available Affordable Units. Marketing material, leases, rent-up schedules and-other printed material related to the Affordable units is subject to City approval. 3. Developer shall provide two 1-bedroom Affordable units and one 2-bedroom Affordable unit fully accessible for the physically disabled. Unit design shall include amenities such as grab bars, modified case work and bathroom facilities and other amenities deemed significant for disability access. Developer shall market the availability of these units but may rent to any applicant if a qualified disabled applicant is not available for a period of ten(10) days after the initial day of marketing. 4. Developer shall accept Section 8 vouchers as a means of assisting qualified applicants/residents.