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(3) Convert rental units to condominium ownership. The inclusionary requirements shall only apply to the incremental increase in the number of units beyond that which is allowed by the density permitted by the General Plan. (c) Units for sale. If the new residential project consists of units for sale, then a minimum of ten (10) percent of the total number of units in the project shall be sold to moderate income households. (d) Rental units. If the new residential project consists of rental units, then a minimum of fifteen (15) percent of the units shall be rented to low-income households, or ten (10) percent rented to very low-income households. (e) Rounding of quantities in calculations. In calculating the required number of inclusionary units, fractional units shall be rounded -up to the next whole unit. The developer may choose to pay an in -lieu fee set forth in section 41-1904(c) for the fractional units, which shall be calculated based on the number of habitable square feet applicable in each case. (f) Displacement of existing inclusionary units. Notwithstanding any other provision of this article, any residential project subject to this article that results in the displacement of very low and/or low income household(s) shall be required to provide on -site inclusionary units as required by this article. (g) Compliance with article. All inclusionary units required by this article shall be sold or rented in compliance with this article. Sec. 41-1903. - Exempt projects. The following are exempt from the requirements of this article (a) Applications deemed complete. Applications that include a residential project for which a development application has been deemed complete prior to November 28, 2011. (b) Development agreements. A residential project that is the subject of a Development Agreement under applicable provisions of the California Government Code that expressly provides for an exclusion to this article or provides for a different amount of inclusionary units from that specified by this article, provided the Development Agreement was adopted on or before November 28, 2011. (c) Project with regulatory agreement. A residential project for which a regulatory agreement has been approved, provided that the regulatory agreement is effective at the time the residential project would otherwise be required to comply with the requirements of this article, and there is no uncured breach of the regulatory agreement before issuance of a certificate of occupancy for the project. This may include a residential project that has obtained a density bonus under article XVI.I of the Santa Ana Municipal Code. Such projects cannot be used to satisfy the inclusionary requirement for another project. Ordinance No. NS-2994 Page 7 of 17