§ 16-70.050. Rental inclusionary unit requirements.

A.

Affordable rental units shall be offered at rent levels not exceeding the maximum rent affordable by the very low, low, or moderate-income household restriction placed on that unit, as determined by the housing authority.

B.

The town may contract with the housing authority or other entity to monitor the developer and/or management agent's compliance with the requirements established for special needs eligibility and/or rent levels and income eligibility for the inclusionary rental units. The developer or owner shall retain final discretion in the selection of tenants, provided that unless specific preferences have been established for a residential development by resolution of the council, the same rental terms and conditions are applied to tenants of inclusionary units as are applied to tenants of noninclusionary units in the development, except as to special needs eligibility and rent levels and income, or as required to comply with government subsidy programs.

C.

The town may contract with the housing authority or other entity to require guarantees, to enter into recorded agreements with developers, and to take other appropriate steps necessary to ensure that the required inclusionary rental units are provided and that they are rented to the appropriate special needs and/or eligible income households.

(Ord. No. 519 N.S., § 3(Exh. A), 3-17-2010)