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M <br /> PROPOSED ORDINANCE AMENDMENT 73 <br /> ORDINANCE: ZONING ORDINANCE <br /> REFERENCE: ARTICLE 7 .14.4 <br /> DENSITY BONUS FOR AFFORDABLE HOUSING <br /> ORIGIN OF AMENDMENT: Staff Planning Board <br /> x BOCC Public <br /> Other: <br /> STAFF PRIORITY RECOMMENDATION: x High Middle Low <br /> Comment: <br /> EXPECTED PUBLIC BEARING DATE: August 28, 1989 <br /> PURPOSE OF AMENDMENT: <br /> To provide incentives for the development of housing <br /> affordable to low and moderate income families. <br /> IMPACTS/ISSUES: <br /> The Report of the Low-Moderate Income Housing Task Force, <br /> completed September, 1987, included a recommendation to amend <br /> the Zoning Ordinance to increase incentives for new <br /> construction of low and moderate-income housing. The <br /> proposed amendment represents one tool which may be used to <br /> achieve that goal. It is proposed that a density increase of <br /> up to 50% be permitted if a percentage of the lots or units <br /> are reserved for occupancy by, or sale to households which <br /> qualify as being in the low or moderate income bracket. <br /> The density bonus proposed could apply in one of three ways: <br /> 1) A density increase of up to 25% if either 40% or <br /> 20% of the lots or units are reserved for occupancy <br /> by low or moderate income households. These <br /> percentages are based on eligibility criteria for <br /> the Low Income Housing Tax Credit (attached) . The <br /> tax credit is available when <br /> 40% of tenants earn 60% or less of median income, <br /> OR <br /> 20% of tenants earn 50% or less of median income. <br /> The occupancy would be restricted by a contractual <br /> agreement with the Orange County Department of <br /> Housing and Community Development, and would be <br /> binding for at least 15 years. <br /> 2) A density increase of up to 25% may also be <br /> approved if off-site land area is donated to Orange <br /> County for future development of affordable <br />