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shall comply with the following requirements: <br />1. The affordable dwelling unit shall remain available <br />as an affordable dwelling unit for the following <br />periods: <br />1. Owner -occupied units shall remain affordable <br />dwelling units for a period of not less than <br />twenty (20) years commencing on the first day <br />following the issuance of a certificate of <br />occupancy, or equivalent final building <br />inspection, for the unit. <br />2. Renter -occupied units shall remain affordable <br />dwelling units for a period of not less than <br />fifteen (15) years commencing on the first day <br />following the issuance of a certificate of <br />occupancy".or equivalent final building <br />inspection, for the unit; : <br />2. Initial -occupancy of an owner -occupied affordable <br />dwelling unit shall be by a household classified as <br />very low-income, low-income or moderate -income <br />whereby the classification is verified by the <br />Indian River County Community Development <br />Department or an agency, either public or private, <br />designated by the community development department <br />or by any state or federal public agencies. <br />3. Households occupying an affordable housing rental <br />unit shall be classified as very low, low, or <br />moderate -income households whereby the <br />classification is verified by the Indian River <br />County Community Development Department, or its <br />designee or by any state or federal public agency, <br />prior to the household's occupancy of the unit. <br />While occupyingthe affordable housing rental unit, <br />a household's annual adjusted gross income may <br />increase to an amount not to exceed one hundred <br />forty (140) percent of one hundred twenty (120) <br />percent of the county's median household income <br />adjusted for household size. <br />4. With respect to owner -occupied affordable dwelling <br />units provided under the provisions of the section: <br />1. The owner -occupant's household annual adjusted <br />gross median income may increase without limit <br />following the household's ,purchase of the <br />affordable dwelling unit; and <br />2. Resale of an affordable dwelling unit by the <br />initial owner or any subsequent owner shall be <br />subject to one of the following provisions: <br />