Ordinance 2021-1809 - Laserfiche WebLink

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discretion and as a legislative act, grant an exception to the restrictions of subsections C and D of this Section on provision of off -site affordable housing and land dedication within low to moderate income areas. The City Council will generally consider whether the placement of the required affordable housing in such areas would result in clustering of low-income housing in a way that would negatively impact the inhabitants of the area, the surrounding community, or the City as a whole, and whether positive elements of redevelopment or investment in the area outweigh any potential negative impacts. 3. The City Manager shall recommend approval or denial of each proposal before the City Council based on compliance with the applicable provisions of this Chapter and adopted City policy. Sec. 17.76.060 Deed restrictions. All required affordable housing shall carry deed restrictions and covenants in a form as directed by the City Manager. 1. When required. a. Ownership covenant. Deed restrictions shall be required for each affordable for -sale unit at the time the unit passes to a qualifying owner. b. Rental covenant. Deed restrictions for affordable rental units shall be required prior to issuance of the first certificate of occupancy for any rental unit in the development. 2. Content. The deed restrictions shall contain all terms determined by the City Manager to be appropriate to ensure the affordability of the unit and compliance with this Chapter. 3. Deed of trust. The deed restrictions shall be secured by a deed of trust on the property, which may be subrogated to other deeds of trust on the property. 4. Term. All ownership and rental covenants shall be perpetual or virtually so; they shall require affordability of the affected unit for the greatest duration allowed by law. 5. Sale. a. Ownership covenants. Ownership covenants shall allow sale to another homeowner qualifying under Section Ordinance No. 1809, Series 2021 Page 10 of 15