Ordinance 1059 - 2026/04/13 - Laserfiche WebLink

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Ordinance No. 1059 Page 5 (1) The Affordable Housing Plan must be approved by the City Council. (2) Minor modifications to the plan are subject to approval by the City Administrator. Major modifications are subject to approval by the City Council. Items that are considered major and minor will be designated in the Affordable Housing Plan. (C) Contents (1) The Affordable Housing Plan shall include at least the following: i. General information about the nature and scope of the development, subject to these regulations. ii. The total number of market rate units and Affordable Housing Units in the development. iii. The floor plans for the Affordable Housing Units showing the number of bedrooms and bathrooms in each Unit. iv. The approximate square footage of each Affordable Housing Units and average square foot of market rate unit by types. v. Building floor plans and site plans showing the location of each Affordable Housing Units. vi. The pricing for each Affordable Housing Units. The pricing of each unit shall be determined at time of approval. At time of sale this price may be adjusted if there has been a change in the AMI or a change in the formulas used in this Policy. vii. The order of completion of market rate and affordable dwelling units. viii. Documentation and specifications regarding the exterior appearance, materials and finishes of the development for each of the Affordable Housing Units illustrating that the appearance of affordable units is comparable to the appearance of the market -rate units. ix. A Management Plan documenting policies and procedures for administering the Affordable Housing Units, in accordance with the Affordable Housing Performance Agreement. x. All other information that the city may require that is needed to achieve the Council's affordable housing goals. 119.016 RECORDED AGREEMENTS, CONDITIONS, AND RESTRICTIONS (A) An Affordable Housing Performance Agreement shall be executed between the City and a Developer, in a form or format approved by the City Attorney, based on the Affordable Housing Plan described in Section 119.015, which formally sets forth development approval and requirements to achieve Affordable Housing in accordance with this Policy and location criteria. The Agreement shall identify: (1) The location, number, type, and size of affordable housing units that are to be constructed. (2) Sales and/or rental terms; occupancy requirements. (3) A timetable for completion of the units; and (4) Restrictions to be placed on the units to ensure their affordability and any