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Compare Versions Page 17 of 22 ( (ii) Include units on the site of the project that are affordable to extremely low income, very low income, or lower income households, as defined in Sections 50079.5, 50105, and 50106 of the Health and Safety Code, as follows: Project Size Inclusionary Requirement 21 200 21-200 units 15%lower income; or 8%very low income; or 6%extremely low income 201-350 units 17%lower income; or 10%very low income; or 8%extremely low income 351 or more units 25%lower income;or 15%very low income;or 11%extremely low income (-H(3) (4)(A) The development proponent of a project that qualifies pursuant to clause (iii) of subparagraph (B) subparagraph (B) of, or clause (i) of subparagraph (C) of, paragraph (2) may make a comparable affordability contribution toward housing offsite that is affordable to lower income households, pursuant to this selaper-agr-apli,paragraph. (ii-)(B) For the purposes of this st aragr-apFh,paragraph, "comparable affordability contribution"means either a dedication of land or direct in-lieu fee payment to a housing provider that proposes to build a residential development in which 100 percent of the units, excluding manager's units, are sold or rented at affordable housing cost, as defined in Section 50052.5 of the Health and Safety Code, or affordable rent, as defined in Section 50053 of the Health and Safety Code,subject to all of the following conditions: (I)(i) The site, and and, if applicable, the dedicated land, is land are located within a one-half mile of the qualifying project. ( (ii) The site, arm and, if applicable, the dedicated land, is land are eligible for an equitable communities incentive. (III)(iii) The residential development that receives a dedication of land or in-lieu fee payment pursuant to this paragraph provides the same number of affordable units at the same income category -which category that would have been required onsite on the site of the qualifying project pursuant to clause(ii)of subparagraph (C) of paragraph (2) for the qualifying project =- par-agfaiali-(-2)-to be eligible for an equitable community incentive if the development proponent did not make a comparable affordability contribution. (IV)(iv) The value of the dedicated land or in-lieu fee payment must be is at least equal to the capitalized value of the forgone revenue that the development proponent would have incurred if the qualifying project had provided the required number and type of affordable units onsite. (-VH(v) If the qualifying project includes 21 or more units of housing, the comparable affordability contribution is subject to a recorded covenant with the local jurisdiction. A copy of the covenant shall be provided to the Department of Housing and Community Development. {tir)(C) For the purposes of this sizibparagfaiali,paragraph, "qualifying project"means a project that receives an equitable communities incentive by providing a comparable affordability contribution. (+v)(D) The qualifying development shall not be issued a certificate of occupancy before the residential development receiving a dedication of land or direct in-lieu fee payment pursuant to this subparagraph paragraph receives a building permit. ($)(4) Affordability—The affordability of units pursuant to this paragraph made affordable to meet the requirements of this subdivision shall be restricted by deed for a period of 55 years for rental units or 45 years for units offered for sale. (e)(c) The site docs not contain, or has not contained, either of the Residents living within one-half mile of the development at time of application shall receive priority for the following: percent of the affordable housing units in the development that are reserved for lower income households. https://leginfo.legislature.ca.gov/faces/bill VersionsCompareC1ient.xhtml?bill id=2019202... 1/10/2020