Incentives

• clustering of IH units
• delayed building of IH units
• density bonus
• fast-track processing
• fee deferral
• fee reduction
• fee waiver
• flexible design standards
• growth control extension
• subsidies
• tax abatement
• (other)

Residential building permit activity 5 years before and after adoption of ordinance:

The requirements of this policy do not apply to: the reconstruction of a structure that has been destroyed by fire, flood or earthquake or other act of nature, provided that reconstruction does not increase the number of residential units; or a development that already has more units that qualify as affordable to moderate-, low- and very low-income households than the Policy requires; or housing constructed by other govt. agencies; or a second unit.

Resale: The maximum sales price permitted on resale of an inclusionary unit designated for owner-occupancy shall be the lower of: fair market value; or the seller's lawful purchase price, increased by the lesser of: a) the rate of increase of area-median income during the seller's ownership; or b) the rate at which the consumer price index increased during the seller's ownership.  To the extent authorized in any resale restrictions or operative Inclusionary Housing Agreement, sellers may recover at the time of sale the market value of capital improvements made by the seller and the seller's necassary and usual costs of sale, and may authorize an increase in the maximum allowable sales price to achieve such recovery.

 If after moving into an inclusionary unit the tenant's income eventually exceeds the income limit for the unit, the tenant may remain in the unit (the "original unit") as long as his/her income does not exceed 140% of the income limit for the original unit.  Once the tenant's income exceeds 140% of the income limit for the original unit, there are guidelines that apply.