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ORDINANCE 2012-016 f. Prior to the issuance of a certificate of occupancy for the affordable dwelling unit(s), a separate private deed covenant, entitled a "restriction on transfer," shall be filed in the public records of Indian River County. The covenant shall be subject to review and approval by county staff in order to verify compliance with the requirements of this section, and the covenant shall: Identify the subject unit as an affordable dwelling unit and specify that at no time may the identified unit be utilized as a model home, construction office or other non-residential occupancy use; and ii. Identify the units corresponding fifteen- or twenty-year affordability timeframe; and iii. Identify that the initial owner and each subsequent owner of an owner - occupied affordable dwelling unit must satisfy and comply with the re- sale provision of the county's local housing assistance plan; and iv. Identify the Board of County Commissioners of Indian River County or its community development department or as its designee, as the agency with enforcement and verification authority to enforce the terms of the covenant, and as the contact agency for closing agents to obtain estoppel letters; and V. Identify any additional terms or conditions relating to the provision of the affordable dwelling unit as established by the Board of County Commissioners via its review and approval of the corresponding planned development approval. vi. Specify that monitoring the occupancy of the affordable dwelling unit shall be included in the compliance monitoring activities of the county's local housing assistance program, or a suitable substitute determined by the Indian River County Board of County Commissioners. vii. Specify that no provision of the restrictive covenant may be amended without the consent of the Board of County Commissioners of Indian River County. An applicant may obtain a development density bonus for a planned development project in compliance with one of the following options: a. An applicant may obtain a density bonus by providing affordable dwelling units within the residential development project which will utilize the density bonus. For development projects utilizing the on-site affordable dwelling unit density bonus, the affordable housing density bonus shall be determined as indicated in the following table: Bold Underline: Additions to Ordinance 37 Stfike H3reag#r: Deleted Text from Existing Ordinance C:\Documents and Settings\tlister\Local Settings\Temporary Internet Files\Content.Outlook\QPAZMTU8\2012-016 911 and 912.doc