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The new construction of a project consisting of five (5) or more multi -family units; <br />or <br />The new construction of five (5) or more separate houses or dwelling units; or <br />The conversion of five (5) or more existing residential rental units to condominium <br />ownership. <br />Target area means that area designated by the city from time to time, on an as -needed <br />basis, as a priority area for rehabilitation due to health and safety concerns. <br />Total housing costs the total monthly or annual recurring expenses required of a <br />household to obtain shelter. For a rental unit, total housing costs shall include the monthly <br />rent payment and utilities paid by the tenant (excluding telephone and television). For an <br />ownership unit, total housing costs shall include the mortgage payment (principal and <br />interest), insurance, homeowners' association dues (if applicable), private mortgage <br />insurance (if applicable), taxes, utilities, an allowance for maintenance and any other <br />related assessments. <br />Sec. 41-1902. Applicability and inclusionary unit requirements. <br />(a) Applicability. The requirements of this article shall apply to any new project <br />comprised of five (5) or more residential lots or residential units <br />including new <br />construction and condominium conversions, which meets one or all of the following <br />applicability thresholds: <br />(1) A change in use to allow for residential or that exceeds the general plan or <br />zoning prescribed densities or percentage of residential development of the subject <br />property at the time of application. <br />(2) Implementation of the permitted residential density or percentage of residential <br />development allowed as a result of city initiated zone changes or city initiated general <br />plan amendments after November 28, 2011. <br />(3) Increase of the permitted percentage of residential development allowed for a <br />mixed -use development above the percentage permitted under the zoning classification <br />at the time of application. <br />(4) Development of new residential uses or increase of the permitted residential <br />density or percentage of residential development within an overlay zone approved <br />pursuant to Division 28 of Article I of this Chapter. <br />(5) Conversion of rental units to condominium ownership. <br />(b) Applications. The inclusionary requirements shall only apply to the incremental <br />units beyond that which is allowed as prescribed in Subsection (a) above. <br />City Council 17 — 7 aq 442,()2. _XXX <br />Page 5 of 18 <br />