When applying to create a subdivision or planned unit development (PUD), the option of using a density bonus is available based on the following criteria:
Residential developments may devote 20 percent of the proposed lots to affordable housing pursuant to the following requirements:
A. In the following residential zones: SR, R-1, R-MH, a density bonus for up to 20 percent of the proposed lots would allow a minimum lot area for each dwelling unit of 4,000 square feet. No specific minimum lot width is required.
B. In the following residential zones: R-2, R-3, a density bonus for up to 20 percent of the proposed lots would allow a minimum lot area of 5,000 square feet for the first two dwelling units and for each additional unit the lot area shall increase by 1,000 square feet. No specific minimum lot width is required.
C. All other provisions and requirements of the zoning district shall apply.
D. Any lots created using the density bonus lesser square footage requirement must site a dwelling unit in compliance with one of the following options:
1. Affordable Housing for Purchase. Dwelling units designated as affordable housing available for purchase shall:
a. Only be sold to individuals or families whose annual net income does not exceed 80 percent of the area median income as determined by HUD; and
b. Have a mortgage payment not to exceed 30 percent of the monthly net income as outlined below:
i. Studio apartment: One-person qualifying monthly income;
ii. One bedroom: Two-person qualifying monthly income;
iii. Two bedrooms: Four-person qualifying monthly income;
iv. Three bedrooms: Six-person qualifying monthly income;
v. Four bedroom: Seven-person qualifying monthly income; and
c. Have a deed restriction signed and recorded establishing a period of affordability of not less than 15 years. In no event will a purchaser be required to sell the unit subject to this agreement for less than the purchase price plus any applicable closing costs and realtor fees. If an owner of a dwelling unit subject to this deed restriction decides to rent the unit, subsection
(B) of this section is applicable.
2. Affordable Housing for Rent. Dwelling units designated as affordable housing available for rent shall:
a. Only be rented to individuals or families whose annual net income does not exceed 60 percent of the area median income as determined by HUD; and
b. Have the rent charged not exceed 23 percent of the qualifying family net income as outlined below:
i. Studio apartment: average of the one-and two-person qualifying monthly incomes;
ii. One bedroom: average of the two-and three-person qualifying monthly incomes;
iii. Two bedrooms: average of the three-, four-, and five-person qualifying monthly incomes;
iv. Three bedrooms: average of the four-, five-, six-, and seven-person qualifying monthly incomes;
v. Four bedrooms: average of the five-, six-, seven-, and eight-person qualifying monthly incomes; and
c. Have a deed restriction signed and recorded establishing a period of affordability of not less than 15 years.
d. An annual registration fee, set by resolution of the city council, must be paid and a copy of the current rental agreement provided to the city. Beginning January 1st of each year the city will conduct an annual review of registered affordable rentals to ensure compliance. Properties determined to be noncompliant shall be subject to abatement pursuant to BMC §
8.15.090.
e. With any change of tenants new qualifying information must be provided to the city.
(Ord. 08-O-620 § 2)