Affordable Housing RegulationsOn January 21, 2009, the Cirty Council adopted an ordinance amending the City’s zoning code to require any new residential development, consisting of five or more units, to provide 15 percent of its newly constructed units to low and/or moderate income individuals. In the case of rental housing - 7.5% of the units would need to be provided each to very-low and low income residents. In the case of for-sale housing – 10% would need to be provided for low income residents and 5% for moderate income residents.
This type of affordable housing regulation is generally referred to as an inclusionary ordinance. The proposed ordinance contains land dedications and in-lieu fee options. Individuals who live or work in the City would have the first priority to lease or purchase affordable units. The ordinance also requires preservation of existing low income housing or replacement on a unit for unit basis.
You can read the entire ordinance here.