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In addition to the above. the Affordable housing Agreement shall set Ibrth any waiver of <br />the Lower hlcome Housing Fec. For projects which meet the affordability threshold with <br />Very Low and/or Low h~come units, all units in the project shall he eligible for a waiver <br />of the Lower Income I lousing Fee. For Single Family Residential Projects which meet <br />the affordability threshold with Moderate Income units, or Multiple Family Residential <br />Projects which do not meet the affordability threshold. only the Inclusionary Units shall <br />be eligible for a waiver of the Lower Income I lousing Fec except as otherwise approved <br />by the City Council. <br />To assure affordability over the life of the unit, the Affordable Housing Agreement shall <br />be recorded with the property decd or other method approved by the City Attorney. [n <br />the event an Inclusionary unit is affordable by design the Affordable Ilousing Agreement <br />shall stipulate the method for assuring that the units retain their affordability as the <br />housing market changes. <br />~fhe Director of Planning and Community Development may waive the requirement for <br />an Affordable I lousing Agreement for projects approved prior to the effective date of <br />this ordinance and/or t<~r projects that have their affordable housing requirements <br />included in a development agreement or other City document. <br />Section 17.44.070. Incentives to F,ncoura~e On-Site Construction of Inclusionary <br />Units <br />The City shall consider making available to the Applicant incentives to increase the <br />feasibility of residential projects to provide hnclusionary Units. incentives or financial <br />assistance will be offered only to the extent resources for this purpose arc 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. I lowever. 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 />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 demonsU~ation 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 />Page 7 <br />IACLl~til(~NAKY /(KING URDIN:ANCI. CC uppi due;<Il <br />;iii FAlh ~ ih I'\I <br />