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<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. <br />8. Documentation and specifications regarding the exterior appearance, <br />materials and finishes of the development for each of the affordable <br />dwelling units illustrating that the appearance of affordable units are <br />comparable to the appearance of the market-rate units. <br />9. An Affordable Dwelling Unit Management Plan documenting policies <br />10. and procedures for administering the affordable dwelling units in <br />accordance with the Affordable Housing Performance Agreement. <br />11. All other information that the City may require that is needed to achieve <br />the Council’s affordable housing goals. <br />9. Recorded Agreements, Conditions and Restrictions. <br />a. An Affordable Housing Performance Agreement shall be executed between the City and <br />a Developer, in a form approved by the City Attorney, based on the Affordable Housing <br />Plan described in Section 8 of this Policy, which formally sets forth development approval <br />and requirements to achieve Affordable Housing in accordance with this policy and <br />location criteria. The Agreement shall identify: <br />i. The location, number, type, and size of affordable housing units that are to be <br />constructed. <br />ii. Sales and/or rental terms; occupancy requirements. <br />iii. A timetable for completion of the units; and <br />iv. Restrictions to be placed on the units to ensure their affordability and any terms <br />contained in the approval resolution by the City as applicable. <br />b. The applicant or owner shall execute all documents deemed necessary by the City, <br />including, without limitation, restrictive covenants, and other related instruments, to <br />ensure the affordability of the affordable housing units in accordance with this Policy. <br />c. The applicant or owner must prepare and record all documents, restrictions, easements, <br />covenants, and/or agreements that are specified by the City as conditions of approval of <br />the application prior to issuance of any zoning permits or approvals for any development <br />subject to this Policy.