§ 10-8.201. Density Bonus Agreements.

Any developer requesting a density bonus shall submit a density bonus agreement in a form approved by the City Attorney. The density bonus agreement shall be approved by the Council and shall run with the land. It may include, but not be limited to, the following provisions:

(a)

The number of requested housing units above the amount allowed by the zoning of the site at the time of approval of the density bonus agreement, and the additional incentives requested.

(b)

The number of affordable units by number of bedrooms and income group to be provided in the project.

(c)

The term of affordability for affordable units, as defined in Section 10-8.301.

(d)

The standards for maximum qualifying incomes for affordable units.

(e)

The standards for maximum rents or sales prices for affordable units.

(f)

The process to be used to certify tenant/homeowner incomes.

(g)

The arrangements with the Stanislaus County Housing Authority for monitoring of the affordable units.

(h)

How vacancies will be marketed and filled.

(i)

Restrictions and enforcement mechanisms binding on property upon sale or transfer.

(j)

Penalties and enforcement mechanisms in event of failure to maintain affordability provisions.

(k)

Any other provisions deemed necessary by the City of Modesto.