03 - Laserfiche WebLink

Section 17.44.080. Alternatives to Constructing Inclusionary Units On-Site The primary emphasis of the Inchsionary 7.oning Ordinance is to achieve the inclusion of affordable housing units to be constructed in conjunction with market rate units within the same project in all new residential projects. I Iowever, the City acknowledges that it may not always he practical to require that every project satisfy its affordable housing requirement through the construction of affordable units within the project itself. Therefore, the requirements of this Chapter may be satisfied by various methods other than the construction of Inclusionary Units on the project site. Some examples of alternate methods of compliance appear below. As housing market conditions change. the City may need to allow alternatives to provide options to Applicants to further the intent of providing affordable hvusing with new development projects. A. Off-Site Projects Inclusionary Units required pursuant to this Chapter may be permitted to be constructed at a location within the City other than the project site. Ane ofl~-site Inclusionary C~nits must meet the following criteria: 1. The off-site Inclusionary Units must he determined to be consistent with the City's goal of creating, preserving, maintaining, and protecting housing for Very I,ow. Low, and Moderate Income I iouseholds. 2. The off-site Inclusionary ilnits must not result in a significant concentration of Inclusionary Units in any one particular neighborhood. 3. The off-site Inclusionary Units shall conform to the requirements of all applicable City Ordinances and the provisions of this Chapter. 4. 17~e occupancy and rents of the of~I=site Inclusionary Units shall be governed by the terms of a decd restriction, and if applicable, a declaration of covenants. conditions and restrictions similar to that used for the on-site [nclusionary Units. The Affordable IIousing Agreement shall stipulate the terms of the off-site Inclusionary Units. If the construction does not take place at the same time as project development. the agreement shall require the Units to be produced within a specified time frame, but in no event longer than five (5) years. A cash deposit or bond may be required by the City. refundable upon construction, as assurance that the units will be built. B. Land Dedication An Applicant may dedicate land to the City or a local non-profit housing developer in place of actual construction of Inclusionary Units upon approval of the City Council. ['a~~c 9 P]CI I~SIr IN:ARY LUNIS(~URDINANCI: CC apps due/SP6 Ri I K/nfi ; ;v Pitt