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GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 1989 <br /> 1 (1) To construct at least twenty-five percent (25%) of the total units of <br /> 2 a housing development for persons and families of low or <br /> 3 moderate income; or, <br /> 4 (2) To construct at least ten percent (10%) of the total units of a <br /> 5 housing development for lower income households. <br /> • 6 (b) For the purposes of this Article. `density bonus' means a density increase of at <br /> 7 least twenty-five percent (25%) over the otherwise maximum allowable residential <br /> 8 density under the applicable zoning classification. The density bonus shall not be <br /> 9 included when determining the number of housing units which is equal to ten <br /> 10 percent (10%) or twenty-five percent (25%) of the total. The Town may apply the <br /> 11 density bonus to housing developments consisting of five or more dwelling units. <br /> 12 (c) For the purpose of increasing the availability of housing for persons of low and <br /> 13 moderate income and thereby promoting the public health, safety and welfare, the <br /> . 14 Town of Chapel Hill may enact ordinances requiring that developers of housing <br /> 15 within the Town and its extraterritorial planning jurisdiction: <br /> 16 (1) Construct at least twenty-five percent (25%) of the total units of a <br /> 17 housing development.for persons and families of low or moderate <br /> 18 income; or. <br /> 19 (2) Construct at least ten percent (10%) of the total units of a housing <br /> 20 development for lower income households. • <br /> 21 (d) The Town may exercise the authority granted in subsection (c) of this section <br /> 22 only if the Town either grants a density bonus or provides other incentives of <br /> 23 equivalent financial value to a developer required to provide low and moderate <br /> 24 income housing." <br /> 25 Sec. 4. This act is effective upon ratification. <br /> • <br /> House Bill 915 Page 3 <br />