§ 17.5-101. Workforce housing bonus density agreement.

(a)

Prior to the approval of any development order or permit (including the issuance of a building permit) for any development in which a density bonus is requested, the applicant shall enter into a workforce housing bonus density agreement with the City. The agreement shall set forth the commitments and obligations of the applicant to ensure compliance with this article.

(b)

The applicant shall execute any and all documents deemed necessary by the City in a form to be established by the City, including, without limitation, restrictive covenants, protective covenants, deed restrictions, and related instruments (including requirements for income qualification for tenants of rental units) to ensure the continued compliance with this article.

(c)

Restrictive covenants or deed restrictions and other required documents shall specify that the title to any workforce housing bonus density dwelling units shall only be transferred with prior written approval by the City. The sole purpose of this approval shall be to ensure that any transfer complies with the requirements of this article and other Codes and development orders or permits and conditions thereof. Such written approval shall be executed by the City Administrator and approved as to form by the City Attorney or his designee before it is effective.

(Code 1992, § 17.5-56; Ord. No. 854-G, § 1, 11-29-2007; Ord. No. 339-H, § 2, 8-23-2018)