§ 16-36A.004. On-site affordability requirement.

All improvement of real property in the BeltLine Overlay District, regardless of the number of parcels, upon which ten or more new residential rental dwelling units will be constructed at one location, shall comply with the applicable affordability requirement set forth below. The affordability requirement shall apply for the greater of 20 years from the date of the issuance of the certificate of occupancy; or such longer period from the date of the issuance of the certificate of occupancy, as permitted by state law at the time of the issuance of the building permit. The affordable workforce housing units shall be substantially 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. The number of bedrooms in the Affordable Workforce Housing Units (e.g. 1 bedroom, 2 bedroom, 3 bedroom) shall be proportionate to the number of bedrooms in the market rate units.

(1)

At least 15 percent of the total residential rental units shall be actively marketed for lease to 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 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 (not including utilities and mandatory fees) for each affordable workforce 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 rental units shall be actively marketed for lease to 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 (not including utilities and mandatory fees) for each affordable workforce housing unit shall be no more than 30 percent of the household's monthly gross income as published periodically by HUD.

Units actively marketed for lease in accordance with the terms of the LURA shall be considered to be in compliance with the requirements of this Chapter 36A.

( Ord. No. 2017-72(17-O-1542), § 1(Exh. A), 11-29-17 )