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Shoreview Inclusionary <br />Housing Policy <br />c. The maximum rent amount shall be based on the metropolitan area that <br />includes Shoreview adjusted for bedroom size and calculated annually by the <br />Department of Housing and Urban Development and posted by Minnesota <br />Housing for establishing rent limits for the Housing Tax Credit Program. <br />d) Period of affordability: <br />a. For rental developments subject to this policy, the period of affordability for <br />the affordable dwelling units shall be at least twenty (20) years, up to twenty- <br />five (25) years. The exact period of affordability will be determined through <br />negotiation with the city. <br />S. FAMILY SIZED UNIT REQUIREMENTS <br />Developments with 50 units or greater are required to include a minimum number of <br />three, four -bedroom or larger units. The specific number of three, four -bedroom size units <br />required per development is based on the total number of units in the development as <br />noted in the table below. <br />Building Size - <br />total residential units <br />Required Minimum Number of 3 <br />and/or 4-bedrooms or larger size units <br />50-74 <br />2 <br />75-99 <br />3 <br />100-124 <br />4 <br />125-149 <br />5 <br />150-174 <br />6 <br />175+ <br />7 <br />Developments with age restrictions serving households 55 years of age or older are <br />exempt from this requirement. Any deviation from the family size unit policy requires city <br />approval. <br />6. LOCATION OF AFFORDABLE RENTAL DWELLING UNITS <br />Except as otherwise specifically authorized by this policy, the affordable dwelling units shall <br />be located within the development. <br />7. STANDARDS FOR INCLUSIONARY RENTAL UNITS <br />Size and design of affordable units <br />The developer shall not designate specific units for affordability. They shall be of the same <br />design, size and materials as market -rate units. <br />4 <br />