Affordable rental housing

Intent

To enable citizens from a wide range of economic levels and age groups to live within a community.

Requirements

Include a proportion of rental units priced for households earning below area median income such that:

Option 1

At least 15% of total rental units are priced for households up to 50% of area median income and units are maintained at affordable levels for a minimum of fifteen years (1 point);

OR

Option 2

At least 30% of total rental units are priced for households up to 80% of area median income and units are maintained at affordable levels for a minimum of fifteen years (1 point);

OR

Option 3

At least 15% of total rental units are priced for households up to 50% of area median income and an additional 15% of total rental units are priced for households at up to 80% of area median income and units are maintained at affordable levels for a minimum of fifteen years (2 points).