§ 54-1. Affordable housing.

(a)

Definitions. The following words, terms and phrases, when used in this section, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

(1)

Affordable housing means housing units accessible to individuals and families at or below 50 percent of area median income.

Statistics regarding area median income are published annually by the U.S. Department of Housing and Urban Development, and the City of Atlanta shall utilize these statistics.

(2)

Mixed income housing. For the purposes of public subsidies, mixed income housing is housing that contains at least 33 percent affordable housing units.

(3)

Extremely low income family. An extremely low income family is a family making less than 30 percent of area median income.

(b)

The city formally adopts the following policies regarding the availability of affordable housing as goals:

(1)

All public subsidies for affordable housing should targeted so that two-thirds of the subsidies reach extremely low income families.

(2)

The city should utilize the definition of affordability as contained in section 54-1(a) as the standard definition for all housing-related public programs in which the city participates.

(3)

All tax increment financings and tax allocation districts that contain a residential component should include 33 percent of affordable housing units.

(4)

Utilization of housing enterprise zone tax abatement subsidies should include an obligation for the development of at least 33 percent of affordable housing units.

(c)

Mandatory affordable housing for publicly subsidized multi-family residential property. Any multi-family residential property that receives a grant, incentive, or subsidy through a sale lease-back or other written agreement involving a development authority doing business in the City of Atlanta shall include affordable housing, as approved by the development authority from one of the two tiers set forth in the definition of affordable housing below, during the term of the grant, incentive or subsidy. The affordable housing units shall be similar in construction and appearance (e.g., square footage, type and brand of appliances, materials used for countertops, flooring, etc.) to the market rate units and shall not be in isolated areas in the development, but shall be interspersed among market rate units. No certificate of occupancy shall be issued for such property until the applicant provides an executed affordable housing land use restriction agreement in substantially the form promulgated by the office of housing for recordation.

As used herein, " Affordable housing" means:

(1)

At least 15 percent of the total residential units shall be leased to households (excluding student households) having an income, as certified by the prospective tenant(s), at the time of execution of the applicable lease agreement that does not exceed 80 percent of the area median income ("AMI") for the family size having the same number of persons as the subject household for the Atlanta-Sandy Springs-Marietta, Georgia Department of Housing and Urban Development ("HUD") Metro Fair Market Rent Area (as published by HUD as of the date of the tenant's application). The monthly rent amount (including utilities and mandatory fees) for each affordable housing unit shall be no more than 30 percent of the household's monthly gross income as published periodically by HUD; or

(2)

At least ten percent of the total residential units shall be leased to households (excluding student households) having an income, as certified by the prospective tenant(s), at the time of execution of the applicable lease agreement that does not exceed 60 percent of the AMI for the family size having the same number of persons as the subject household for the Atlanta-Sandy Springs-Marietta, Georgia HUD Metro Fair Market Rent Area (as published by HUD as of the date of the tenant's application). The monthly rent amount (including utilities and mandatory fees) for each affordable housing unit shall be no more than 30 percent of the household's monthly gross income as published periodically by HUD.

(Ord. No. 2001-93, § 1, 12-11-01; Ord. No. 2016-12(16-O-1163), § 1, 5-11-16 )