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e. For projects utilizing the provision of on-site or off-site affordable dwelling units, no certificate for occupancy for a market rate priced dwelling unit shall be issued unless the ratio of market rate dwelling units certified for occupancy to affordable dwelling units certfied for occupancy is equal to or greater than the overall project's approved ratio of market rate dwelling units to affordable dwelling units. 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 verb compliance with the requirements of this section, and the covenant shall: i. Idents the subject unit as an affordable dwelling unit and speck that at no time may the identified unit be utilized as a model home, construction office or other non-residential occupancy use; and ii. Idents the units corresponding fifteen- or twenty-year affordability timeframe; and iii. Idents 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. Idents 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. Idents 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. Speck 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. Speck that no provision of the restrictive covenant may be amended without the consent of the Board of County Commissioners of Indian River County. 3. 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: Very Low Income Density (VLI) and Low Income Bonus (Percent Additional Density Bonus for Providing Range of Possible Density (LI) Affordable increase Additional Buffer and Landscaping based on Bonus Percentage (Percent Units in one of the following options (percent increase increase in allowable as Percentage of allowable in allowable units) units) Project's Total units). Units Option I Option 11 Material equal to a 20' wide Type Material equal to a 10' B buffer* with 6' wide Type C buffer* with opaque feature 6' opaque feature along along residential residential district district boundaries and 4' opaque boundaries and feature along roadways 4' opaque feature along roadways More than 30% 10% 5% or 10% 10-20% *Buffer types are identified in Chapter 926 of the county's Land Development Regulations b. An applicant may obtain a density bonus by providing affordable dwelling units off-site from the residential development project which will utilize the density bonus. For development projects utilizing the Attachment 1