SR 05:197 - Laserfiche WebLink

"Life of the inclusionary unit": The term during which Ihe affordabilily provisions for inclusionary units shall remain applicable. The affordability provisions for inclusionary unils shall apply in perpetuity from the date of occupancy, which shall be the dale Ihe cily of Pleas an Ion performs [mal inspection for the building permit. "Lower income housing fee": A fee paid to Ihe cily by an applicant for a projecl in Ihe cily, in lieu of providing Ihe inclusionary unils required by this chapter. "Median income for Alameda Counly": The median gross annual income in Alameda County as delermined by HUD, adjusted for household size. "Off-sile inclusionary units": lnclusionary unils conslrucled wilhin Ihe city of Pleasant on on a sile olher than the she where Ihe applicant inlends 10 construcl markel rate unils. "Ownership units": lnclusionary unils developed as part of a residenlial development which Ihe applicant inlends will be sold, or which are customarily offered for individual sale. "Project": A residenlial housing development at one localion or site including all dwelling units for which permils have been applied for or approved. "Project owner": Any person, fIrm, parlnership, association, joint venlure, corporalion, or any entily or combination of enlilies which holds fee title to Ihe land on which Ihe project is localed. "Property owner": The owner of an inclusionary unit, excepling a "Project Owner". "Recapture mechanisms": Legal programs and restriclions by which subsidies provided 10 inclusionary units will be controlled and repaid to the city and/or other enlily upon resale, to ensure Ihe ongoing preservation of affordability of inclusionary unils or to ensure funds for inclusionary units remain wilhin the cily's affordable housing program. "Rental unils": lnclusionary unils which Ihe applicant inlends will be renled or leased, or which are customarily offered for lease or rent "Resale restriclions": Legal restrictions which reslricllhe price of inclusionary unils 10 ensure thai they remain affordable 10 very low, low, and moderate income households on resale. "Residential project, multiple-family": A residential projecl consisting of condominiums, apartmenls, and similar dwellings attached in groups of four (4) or more units per structure and including multiple unils located on a single parcel ofland under common ownership. "Residenlial projecl, single-family": A residential project consisling of detached and attached single-family homes, including paired single-family, duets, duplexes, lownhomes, and similar unillypes where each unit is located on a separate parcel of land. "Unit Iype": Various dwelling units within a project which are dislinguished by number of bedrooms and/or the Iype of construction (e.g., detached single-family, duels, townhomes, condominiums). (Ord. 1818 9 1,2000)