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<br />b. Appearance. The exterior materials and design of the affordable dwelling units in any <br />development subject to this Policy shall be indistinguishable in style and quality with the <br />market rate units in the development. The interior finish and quality of construction of the <br />affordable dwelling units shall at a minimum be comparable to other units within the <br />proposed development. Construction of the affordable dwelling units shall be concurrent <br />with the construction of market rate dwelling units. <br />c. Tenants. Rental affordable dwelling units shall be rented only to income eligible families <br />during the period of affordability. An income eligible family may remain in the affordable <br />dwelling unit for additional rental periods if the income of the family does not exceed one- <br />hundred twenty percent (120%) of the applicable AMI. <br />6. Incentives. The city can provide a combination of the following to projects that meet the <br />requirements of this Policy. Said incentives cannot be combined with any requirements or <br />standards that are waived or varied as part of a Planned Unit Development under Section <br />160.317. <br />a. Building Height. The maximum height allowed in the underlying zoning district can be <br />increased by up to ten (10) feet or one story. <br />b. Density. The minimum lot area per unit required for a multifamily or multiple family use <br />(as listed in Section 160.056(B)(2)(c) can be reduced by 10%. <br />c. Setbacks for Principal Structures. The minimum setbacks required under the underlying <br />zoning district (as listed in Section 160.055(C)) can be reduced by 10%. <br />7. Alternatives. Developments that are unable to comply with Sections 2-5 of this Policy can meet <br />the following options: <br />a. Payment in lieu of Affordable Housing Units. <br />i. A fee, based on 10% of the estimated market value at the time of application, can <br />be paid to the city. Said funds shall be used for affordable housing purposes <br />only. <br />8. Affordable Housing Plan. <br />a. Applicability <br />i. Developments that are subject to this Policy shall include an Affordable Housing <br />Plan as described below. An Affordable Housing Plan describes how the <br />developer complies with each of the applicable requirements of this Policy. <br />b. Approval <br />i. The Affordable Housing Plan shall be approved by the City Council. <br />ii. Minor modifications to the plan are subject to approval by the City Administrator. <br />Major modifications are subject to approval by the City Council. Items that are <br />considered major and minor will be designated in the Affordable Housing Plan. <br />c. Contents. <br />i. The Affordable Housing Plan shall include at least the following: <br />1. General information about the nature and scope of the development <br />subject to these regulations. <br />2. The total number of market rate units and affordable dwelling units in the <br />development. <br />3. The floor plans for the affordable dwelling units showing the number of <br />bedrooms and bathrooms in each Unit. <br />4. The approximate square footage of each affordable dwelling unit and <br />average square foot of market rate unit by types. <br />5. Building floor plans and site plans showing the location of each <br />affordable dwelling unit. <br />6. The pricing for each affordable ownership dwelling unit. The pricing of <br />each unit shall be determined at time of approval. At time of sale this <br />price may be adjusted if there has been a change in the median income <br />or a change in the formulas used in this Policy. <br />7. The order of completion of market rate and affordable dwelling units.