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Rental Units: Inclusionary Units which the Applicant intends will be rented or leased, or which <br />are customarily offered for lease or rent. <br /> <br />Recapture Mechanisms: Legal programs and restrictions by which subsidies provided to <br />Inclusionary Units will be controlled and repaid to the City and/or other entity upon resale, to <br />insure the ongoing preservation of affordability of Inclusionary Units or to insure funds for <br />Inclusionary Units remain within the City's affordable housing program. <br /> <br />Resale Restrictions: Legal restrictions which restrict the price of lnclusionary Units to insure <br />that they remain affordable to Very Low, Low, and Moderate Income households on resale. <br /> <br />Residential Project, Multiple Family: A residential project consisting of condominiums, <br />apartments, and similar dwellings attached in groups of four or more units per structure and <br />including multiple units located on a single parcel of land under common ownership. <br /> <br />Residential Project, Single Family: A residential project consisting of detached and attached <br />single family homes, including paired single family, duets, duplexes, townhomes, and similar <br />unit types where each unit is located on a separate parcel of land. <br /> <br />Unit Type: Various dwelling units within a project which are distinguished by number of <br />bedrooms and/or the type of construction (e.g., detached single family, duets, townhomes, <br />condominiums). <br /> <br />ARTICLE II -- ZONING REQUIREMENTS <br /> <br />Section 17.44.040. General Requirements/Applicability. <br /> <br />A. Residential Development <br /> <br />For all new Multiple Family Residential Projects of 15 units or more, at least 15% of the <br />project's dwelling units shall be affordable to Very Low, and/or Low Income households. For all <br />new Single Family Residential Projects of 15 units or more, at least 20% of the project's <br />dwelling units shall be affordable to Very Low, Low, and/or Moderate Income households: <br />These dwelling units shall be referred to as "Inclusionary Units". Special consideration will be <br />given to projects in which a significant percentage of the Inclusionary Units are for Very Low <br />and Low Income households. The specific mix of units within the three affordability categories <br />shall be subject to approval by the City. <br /> <br />The Inclusionary Units shall be reserved for rent or purchase by eligible Very Low, Low, and <br />Moderate Income Households, as applicable. Projects subject to these requirements include, but <br />are not limited to, single-family detached dwellings, townhomes, apartments, condominiums, or <br />cooperatives provided through new construction projects, and/or through conversion of rentals <br />to ownership units. <br /> Ordinance No. 1818 <br /> Page 4 <br /> <br /> <br />