§ 2.06.04. Limitations on Affordable Housing Density Bonus

Anything to the contrary notwithstanding, the following limitations and conditions shall apply to all of the AHDB for a development:

A.

Affordable housing density bonus development agreement required. The AHDB shall be available to a development only when an AHDB development agreement has been entered into by the developer/applicant and the BCC, and such agreement has been approved by the county attorney and the BCC pursuant to the public hearing process established in this section prior to execution. Amendments to such agreement shall be processed as a regular agenda item before the BCC unless there is a companion land use petition. The AHDB development agreement shall include, at a minimum, the following provisions:

1.

Legal description of the land subject to the agreement and the names of its legal and equitable owners.

2.

Total number of residential dwelling units in the development.

3.

Minimum number of affordable housing units, categorized by level of household income, type of unit (single-family or multifamily, owner-occupied or rental), and number of bedrooms, required in the development.

4.

Maximum number of AHDB dwelling units permitted in the development.

5.

Gross residential density of the development.

6.

Amount of monthly rent for rental units, or the price and conditions under which an owner-occupied unit will be sold, for each type of affordable housing unit in accordance with the definition for each type of affordable housing rental unit low- and very-low-income.

7.

The foregoing notwithstanding, any rent charged for an affordable housing unit rented to a low- or very-low-income household shall not exceed the amount published by the Florida Housing Finance Corporation for Collier County adjusted by income level, family size, and number of bedrooms, and updated annually.

8.

No affordable housing unit in the development shall be rented to a tenant whose household income has not been verified and certified in accordance with this division as a low- or very-low-income household. Such verification and certification shall be the responsibility of the developer and shall be submitted to the County Manager or designee for approval. Tenant income verification and certification shall be repeated annually to assure continued eligibility.

9.

No affordable housing unit that is to be sold, leased with option to purchase, or otherwise conveyed in the development shall be sold, leased with option to purchase, or otherwise conveyed to a buyer whose household income has not been verified and certified in accordance with this section as a gap-, moderate-, low-, or very-low-income household. Such verification and certification shall be the responsibility of the developer and shall be submitted to the County Manager or designee for approval. It is the intent of this section to keep housing affordable; therefore, any person who buys an affordable housing unit must agree, in a lien instrument to be recorded with the Clerk of the Circuit Court of Collier County, Florida, that if the property is sold (to a non-income qualified buyer, including the land and/or the unit) within 30 years after the original purchase at a sales price in excess of five percent per year of the original purchase price that he will pay to the county an amount equal to one-half of the sales price in excess of five percent increase per year. The lien instrument may be subordinated to a qualifying first mortgage.

10.

For example, a person originally buys a designated affordable housing unit (a house) for $60,000.00 and sells it after five years for $80,000.00. A five percent increase per year for five years will give a value of $76,577.00. Deducting this amount from the sales price of $80,000.00 gives a difference of $3,423.00. The seller would then owe the county $1,711.50 (one-half of $3,423.00). Payment of this amount would release the recorded lien. Such payment shall be maintained in a segregated fund, established by the county solely for affordable housing purposes, and such money shall be used solely to encourage, provide for, or promote affordable housing in Collier County.

11.

No affordable housing unit in any building or structure in the development shall be occupied by the developer, any person related to or affiliated with the developer, or a resident manager.

12.

When the developer advertises, rents, sells or maintains the affordable housing unit, it must advertise, rent, sell, and maintain the same in a nondiscriminatory manner and make available any relevant information to any person who is interested in renting or purchasing such affordable housing unit. The developer shall agree to be responsible for payment of any real estate commissions and fees. The affordable housing units in the development shall be identified on all building plans submitted to the county and described in the application for AHDB.

13.

The developer shall not disclose to persons, other than the potential tenant, buyer or lender of the particular affordable housing unit or units, which units in the development are designated as affordable housing units.

14.

The square footage, construction and design of the affordable housing units shall be the same as market rate dwelling units in the development.

15.

The AHDB agreement and authorized development shall be consistent with the growth management plan and land development regulations of Collier County that are in effect at the time of development. Subsequently adopted laws and policies shall apply to the AHDB agreement and the development to the extent that they are not in conflict with the number, type of affordable housing units and the amount of AHDB approved for the development.

16.

The affordable housing units shall be intermixed with, and not segregated from, the market rate dwelling units in the development.

17.

The conditions contained in the AHDB development agreement shall constitute covenants, restrictions, and conditions which shall run with the land and shall be binding upon the property and every person having any interest therein at any time and from time to time.

18.

The AHDB development agreement shall be recorded in the official records of Collier County, Florida, subsequent to the recordation of the grant deed pursuant to which the developer acquires fee simple title to the property.

19.

Each affordable housing rental unit shall be restricted to remain and be maintained as the type of affordable housing rental unit (low- or very-low-income) designated in accordance with the AHDB development agreement for at least 30 years from the issuance of a certificate of occupancy for such unit.

20.

Each affordable housing owner-occupied unit shall be restricted to remain and be maintained as the type of affordable housing owner-occupied unit (gap-, moderate-, low-, or very-low-income) designated in accordance with the AHDB development agreement for at least 30 years from the issuance of a certificate of occupancy for such unit.

21.

The developer and owner of a rental development shall provide on-site management to assure appropriate security, maintenance and appearance of the development and the dwelling units where these issues are a factor.

B.

Compliance with growth management plan and land development regulations. The AHDB shall be available to a development only to the extent that it otherwise complies and is consistent with the GMP and the land development regulations, including the procedures, requirements, conditions and criteria for PUDs and rezonings, where applicable.

C.

Minimum number of affordable housing units. The minimum number of affordable housing units that shall be provided in a development pursuant to this section shall be 10 percent of the total housing units.

D.

Nontransferable. The AHDB is not transferrable between developments or properties.

E.

Phasing. In the case where a development will occur in more than one phase, the percentage of affordable housing units to which the developer has committed for the total development shall be maintained in each phase and shall be constructed as part of each phase of the development on the property. For example, if the total development's AHDB is based on the provision of ten percent of the total dwelling units as affordable housing rental units for low-income households with two bedrooms per unit, then each phase must maintain that same percentage (10 percent in this case) cumulatively.

(Ord. No. 04-72, § 3.H; Ord. No. 19-02, § 3.E)