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(5) Convert rental units to condominium ownership. <br />(c) Units for sale. If the Residential Project consists of units for sale, then a <br />minimum of 15-percent of the total number of units in the project shall be <br />sold to Moderate-Income Households, or lower. <br />(d) Rental units. If the Residential Project consists of rental units, then a <br />minimum of 15-percent of the units shall be rented to low or Very Low- <br />Income Households. <br />(e) Allowable credits. The Inclusionary Unit requirements of this Section may be <br />reduced at the discretion of the Executive Director if a greater level of <br />affordability is provided. <br />(f) Rounding of quantities in calculations. In calculating the required number of <br />Inclusionary Units, fractional units shall be rounded-up to the next whole <br />unit. The Developer may choose to pay an in-lieu fee set forth in Section 41- <br />1904(c) for the fractional units, which shall be calculated based on a <br />percentage of the per unit cost. <br />(g) Displacement of existing Inclusionary Units. Notwithstanding any other <br />provision of this Article, any Residential Project subject to this Article that <br />results in the displacement of Very Low, Low, and/or Moderate Income <br />Household(s) shall be required to provide on-site Inclusionary Units as <br />required by this Article. <br />(h) All Inclusionary Units required by this Article shall be sold or rented in <br />compliance with this Article. <br />Section 5. Section 41-1903 is added to Chapter 41 of the Santa Ana <br />Municipal Code to read in full as follows: <br />Sec. 41-1903. Exempt projects <br />The following are exempt from the requirements of this Article: <br />(a) Applications deemed complete. A Residential Project for which a <br />development application has been deemed complete prior to <br />b) Development Agreements. A Residential Project that is the subject of a <br />development agreement under applicable provisions of the California <br />Government Code that expressly provides for an exclusion to this Article or <br />provides for a different amount of Inclusionary Units from that specified by <br />this Article. <br />Ordinance No. NS-XXX <br />11 A-8 Page 8 of 17