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<br />ATTACHMENT B <br /> <br />Agreement shall stipulate the method for assuring that the units retain their affordability <br />as the housing market changes. <br /> <br />The Director of Planning and Community Development may waive the requirement for <br />an Affordable Housing Agreement for projects approved prior to the effective date of <br />this ordinance and/or for projects that have their affordable housing requirements <br />included in a development agreement or other City document. <br /> <br />Section 17.44.070. Incentives to Encourage On-Site Construction ofInclusionary <br />Units <br /> <br />The City shall consider making available to the Applicant incentives to increase the <br />feasibility of residential projects to provide Inclusionary Units. Incentives or financial <br />assistance will be offered only to the extent resources for this purpose are available and <br />approved for such use by the City Council or City Manager, as defined below, and to the <br />extent that the Project, with the use of incentives or financial assistance, assists in <br />achieving the City's housing goals. However, nothing in this chapter establishes, directly <br />or through implication, a right of an Applicant to receive any assistance or incentive from <br />the City. <br /> <br />Any incentives provided by the City shall be set out in the Affordable Housing <br />Agreement pursuant to Section 17.44.060 of this Chapter. The granting of the additional <br />incentives shall require demonstration of exceptional circumstances that necessitate <br />assistance from the City, as well as documentation of how such incentives increase the <br />feasibility of providing affordable housing. <br /> <br />The following incentives may be approved for Applicants who construct Inclusionary <br />Units on-site: <br /> <br />A. Fee Waiver or Deferral <br /> <br />The City Council, by Resolution, may waive or defer payment of City development <br />impact fees and/or building permit fees applicable to the Inclusionary Units or the project <br />of which they are a part. Fee waivers shall meet the criteria included in the City's <br />adopted policy for evaluating waivers of City fees for affordable housing projects. The <br />Affordable Housing Agreement shall include the terms of the fee waiver. <br /> <br />Page 8 of 13 <br />