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Section 17.44.080. Alternatives to Constructing Inclusionary Units On-Site The primary emphasis of the Inclusionary Zoning Ordinance is to achieve the inclusion of affordable housing units to be constructed in conjunction with market rate units within the same project in all new residential projects. However, the City acknowledges that it may not always be practical to require that every project satisfy its affordable housing requirement through the construction of affordable units within the project itself. Therefore, the requirements of this Chapter may be satisfied by various methods other than the construction of Inclusionary Units on the project site. Some examples of alternate methods of compliance appear below. As housing market conditions change, the City may need to allow alternatives to provide options to Applicants to :urther the intent of providing affordable housing with new development projects. A. Off-Site Projects Inclusionary Units required pursuant to this Chapter may be permitted to be constructed at a location within the City other than the project site. Any off-site Inclusionary Units must meet the following criteria: 1. The off-site Inclusionary Units must be determined to be consistent with the City's goal of creating, preserving, maintaining, and protecting housing for Very Low, Low, and Moderate Income Households. 2. The off-site Inclusionary Units must not result in a significant concentration of Inclusionary Units in any one particular neighborhood. 3. The off-site Inclusionary Units shall conform to the requirements of all applicable City Ordinances and the provisions of this Chapter. 4. The occupancy and rents of the off-site Inclusionary Units shall be governed by the terms of a deed restriction, and if applicable, a declaration of covenants, conditions and restrictions similar to that used for the on-site Inclusionary Units. The Affordable Housing Agreement shall stipulate the terms of the off-site Inclusionary Units. If the construction does not take place at the same time as project development, the agreement shall require the Units to be produced within a specified time frame, but in no event longer than five (5) years. A cash deposit or bond may be required by the City, refundable upon construction, as assurance that the units will be built. B. Land Dedication An Applicant may dedicate land to the City or a local non-profit housing developer in place of actual construction of Inclusionary Units upon approval of the City Council. Page 9 INCLUSIONARY ZONING ORDINANCE CC appr.doc/SFE 8/18/06 3:56 PM