Laserfiche WebLink
i. Identify the subject unit as an <br />affordable dwelling unit and specify that <br />at no time may the identified unit be <br />utilized as a model home, construction <br />office or other non-residential occupancy <br />use; and <br />ii. Identify the unit's corresponding 15 or <br />20 year affordability timeframe pursuant <br />to subsection (4)(a)2.a; and <br />iii. Identify that the initial owner and each <br />subsequent owner of an owner -occupied <br />affordable dwelling unit must satisfy and <br />comply with the windfall recapture <br />provisions referenced in subsection <br />(4)(a)2.d.ii.; and <br />iv. Identify the Board of County <br />Commissioners of Indian River County or <br />its Community Development Department or <br />the Indian River County Housing Authority <br />as its designee, as the agency with <br />enforcement and verification authority to <br />enforce the terms of the covenant, and as <br />the contact agency for closing agents to <br />obtain estoppel letters; and <br />v. Identify any additional terms or <br />conditions relating to the provision of <br />the affordable dwelling unit as <br />established by the Board of County <br />Commissioners via its review and approval <br />of the corresponding Planned Development <br />Approval. <br />iv. Specify that monitoring the occupancy of <br />the affordable dwelling unit shall be <br />included in the compliance monitoring <br />activities of the county's Local Housing <br />Assistance Program, or a suitable <br />substitute determined by the Indian River <br />County Board of County Commissioners. <br />vii. Specify that no provision of the <br />restrictive covenant may be amended <br />without the consent of the Board of <br />County Commissioners of Indian River <br />County. <br />3. An applicant may obtain a development density bonus <br />for a Planned Development project in compliance <br />with one of the following options: <br />a. An applicant may obtain a density bonus by <br />providing affordable dwelling units within the <br />residential development project which will <br />utilize the density bonus. For development <br />ects utilizing the on-site affordable <br />dwelling unit density bonus, ©the affordable <br />housing density bonus shall be determined as <br />follows: <br />Coding: Words in • -• • Q type are deletions from existing law. <br />Words underlined are additions <br />