The City adopted an inclusionary zoning ordinance in October 2021 that requires developers to provide 15% of units in new developments as income-restricted affordable housing. Below is a brief overview of the ordinance:
Applicability - Inclusionary zoning provisions apply to all projects and developments that result in a net increase of eight or more units.
Provision of Affordable Units - Inclusionary developments shall provide a minimum of 15% of total units as affordable units.
Incentives- Inclusionary developments are afforded the following incentives:
Density Bonus - 1 additional unit allowed per required affordable unit
Parking Adjustment - 1 parking space required per affordable unit
Rental - Affordable rental units shall be reserved for households earning income up to 50% of the Area Median Income (AMI).
Homeownership - Affordable homeownership units shall be reserved for households earning income up to 80% AMI.
Affordability - The maximum rent/purchase price for affordable units shall be set at a level that does not exceed 30% of the renting/purchasing household's income.
For more detail, please see the full ordinance on Municode or contact OSPCD.