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occupancy may remain in the affordable dwelling unit for additional rental periods as <br /> long as the income of the household does not exceed one-hundred forty percent <br /> (140%) of the applicable AMI. <br /> C. Period of Affordability. Affordable units shall remain affordable for a minimum of 20 <br /> years from the date of initial certificate of occupancy. Affordability shall be secured <br /> through a recorded covenant or deed restriction approved by the City Attorney. <br /> D. Non-Discrimination. Developers, owners and managers shall not discriminate against <br /> prospective tenants on the basis of source of income. Projects subject to this Policy <br /> shall accept tenant-based rental housing assistance including but not limited to <br /> Section 8 Housing Choice Vouchers, HOME tenant-based assistance and Housing <br /> Support. Tenants with rental assistance may occupy an affordable dwelling unit with <br /> the rent charged not exceeding the maximum allowed by Metro HRA or the <br /> assistance provider. <br /> Subd. 8 Regulatory Incentives. To offset the costs of providing affordable housing without <br /> public subsidy, developments meetingthe he requirements of this ordinance, are eligible <br /> for the following regulatory incentives: <br /> A. Density Bonus. Developments providing affordable units at or below 80%AMI may <br /> receive a density bonus of up to 25% above the maximum density otherwise <br /> permitted provided the increase does not negatively impact surrounding properties or <br /> conflict with comprehensive plan goals. <br /> Developments providing affordable units at or below 60%AMI may receive a density <br /> bonus of up to 50% 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. Bonus <br /> units may be market rate. <br /> B. Lot Size and Width Reduction. Minimum lot size and lot width requirements may be <br /> y reduced by up to 25% for developments meeting affordability requirements, subject <br /> to site plan approval and findings that public health, safety, and welfare are protected. <br /> C. Lot Coverage Increase. Maximum lot coverage may be increased by up to 10% for <br /> developments meeting affordability requirements, subject to adequate stormwater <br /> management and site plan approval design review. <br /> D. Expedited Review. Applications for developments providing affordable units shall <br /> receive priority review by city staff and may be placed ahead of other applications in <br /> the review queue. <br /> E. Parking Flexibility. The City may consider parking reductions of up to 25% for <br /> developments meeting affordability requirements, provided adequate parking is <br /> demonstrated through a parking study and subject to conditions ensuring affordable <br /> unit residents have equitable access to parking at no additional charge. <br /> Page 5 of 8 <br />