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F' Sp 7,993 <br />BOOK 90 Fn,UF 432 <br />ORDINANCE 93- 29 <br />l. For the purposes of this section, ®an affordable <br />dwelling unit shall be a dwelling unit which: <br />a. Has a market value less than two 2 times <br />Oeighty (80) percent of the <br />non -adjusted annual median <br />family income for Indian River County as <br />2. <br />a. <br />or <br />b. Has a monthly rent less than one -twelfth <br />(1/12) times <br />ver <br />Finance Aaencvffi. <br />b. <br />i. Owner -occupied units shall remain <br />affordable dwelling units for a period of <br />not less than 20 years commencina on the <br />first day following the issuance of a <br />Certificate of Occupancy, or equivalent <br />final building inspection, for the unit. <br />ii. Renter -occupied units shall remain <br />affordable dwelling units for a period of <br />not less than 15 years commencina on the <br />first day following the issuance of a <br />Certificate of Occupancy, or equivalent <br />final building inspection, for the unit; <br />Coding: Words in type are deletions from existing law. <br />Words underlined are additions. <br />9 <br />18 <br />M <br />