Item 28 - Housing Ad Hoc Committee Progress Report Regarding The Housing Opportunity Ordinance

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the tenant (excluding telephone and television). For an ownership unit, total housing costs shall include the mortgage payment (principal and interest), insurance, homeowners' association dues (if applicable), private mortgage insurance (if applicable), taxes, utilities, an allowance for maintenance and any other related assessments. ( Ord. No. NS-2881, § 2, 9-1-15 ; Ord. No. NS-2994 , § 3, 9-1-20) Sec. 41-1902. - Applicability and inclusionary unit requirements. (a) Applicability. The requirements of this article shall apply to any new residential project comprised of twenty (20) or more residential lots or residential units located withinwhich has not received entitlement approvals by the cityCity Council as of MONTH DATE, 2021, including new construction, and condominium conversions which exceedmeets one or all of the general plan prescribed densities.following applicability thresholds: (1) A change in use to allow for residential or to exceed the general plan or zoning prescribed densities or percentage of residential development of the subject property at the time of application. (2) Implement(b) Applications. The requirements of this article shall apply to any new residential project proposed in connection with an application to do any of the following: (1) Increase the permitted residential density of the subject property above the density or percentage of residential development allowed as a result of city initiated zone changes after November 28, 2011. (3) Implement the permitted by the general plan at the time of the application. The inclusionary requirements shall only apply to the incremental increase in the number of units beyond that which is allowed by the applicable density permitted by theresidential density or percentage of residential development allowed as a result of city initiated general plan. amendments after November 28, 2011. (2) 4) Increase the permitted percentage of residential development allowed for a mixed-use development above the percentage at the time of the application. 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. permitted under the zone at the time of application. (3) 5) Development of new residential uses or increase of the permitted residential density or percentage of residential development within an overlay zone approved pursuant to Division 28 of this Chapter. (6) Convert rental units to condominium ownership. (b) Applications. 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. as prescribed in Subsection (a) above. (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, or five (5) percent rented to extremely 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. Exhibit 3 - Redline Draft