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Draft Ordinance Language <br />February 9, 2026 <br />7.2 Income Qualification <br />Tenants of affordable units must be income -qualified at initial occupancy. Income <br />verification shall follow HUD or Minnesota Housing guidelines. <br />A household whose income rises above the qualifying level may continue to occupy the <br />unit provided household income does not exceed 140% of the applicable AMI. Upon <br />vacancy, the unit must be re -rented to an income -qualified household. <br />7.3 Period of Affordability <br />Affordable units shall remain affordable for a minimum of 20 years from the date of <br />initial certificate of occupancy. Affordability shall be secured through a recorded <br />covenant or deed restriction approved by the City Attorney. <br />7.4 Non -Discrimination <br />Owners and managers shall not discriminate against prospective tenants on the basis of <br />source of income, including Housing Choice Vouchers or other rental assistance <br />programs. <br />8. REGULATORY INCENTIVES <br />To offset the costs of providing affordable housing without public subsidy, developments <br />meeting the requirements of this ordinance are eligible for the following regulatory <br />incentives: <br />8.1 Density Bonus <br />Developments providing affordable units at or below 60% AMI may receive a density <br />bonus of up to 25% above the maximum density otherwise permitted, provided the <br />increase does not negatively impact surrounding properties or conflict with <br />comprehensive plan goals. <br />The density bonus shall not increase the number of required affordable units. <br />8.2 Lot Size and Width Reduction <br />Minimum lot size and lot width requirements may be reduced by up to 25% for <br />developments meeting affordability requirements, subject to site plan approval and <br />findings that public health, safety, and welfare are protected. <br />8.3 Lot Coverage Increase <br />Maximum lot coverage may be increased by up to 10% for developments meeting <br />affordability requirements, subject to adequate stormwater management and site design <br />review. <br />8.4 Expedited Review <br />Applications for developments providing affordable units shall receive priority review by <br />city staff and may be placed ahead of other applications in the review queue. <br />Page 5 of 8 <br />