Definitions. As used in this section, the following words and terms shall have the meanings specified herein:
AREA MEDIAN INCOMEThe midpoint of combined salaries, wages, or other sources of income based upon household size in the State College Metropolitan Statistical Area.
CONVERSIONA change in a residential rental development or a mixed-use development that includes rental dwelling units to a development that contains only owner-occupied individual dwelling units or a change in a development that contains owner-occupied individual units to a residential rental development or mixed-use development.
DENSITY BONUSAn increase in the number of market-rate units on the site in order to provide an incentive for the construction of affordable housing pursuant to this chapter, also known as a bonus unit.
DEVELOPMENTThe entire proposal to construct or place one or more dwelling units on a particular lot or contiguous lots, including, without limitation, a traditional town development (TTD) master plan, a planned residential development (PRD), land development or subdivision.
FEE-IN-LIEUA payment of money to Ferguson Township's Affordable Housing Fund in-lieu of providing workforce housing units. This fee is updated annually within the Ferguson Township Schedule of Fees.
LOTA designated parcel, tract or area of land established by a plat or otherwise as permitted by law and to be used, developed or built upon as a unit.
MEDIAN GROSS HOUSEHOLD INCOMEThe median income level for the State College, PA Metropolitan Statistical Area (MSA), as established and defined in the annual schedule published by the Secretary of the U.S. Department of Housing and Urban Development, adjusted for household size.
PHASEThe portions of an approved development, or, in the case of a master plan approval, a specific implementation plan, which are set out for development according to a Township-approved schedule.
RECEIVING DEVELOPMENTA new development with transferred workforce housing obligations from a sending site.
RENOVATIONThe physical improvement that adds to the value of real property, but that excludes painting, ordinary repairs, and normal maintenance.
SENDING DEVELOPMENTA development which utilizes the off-site option to send its own workforce housing unit obligations to another development on a different site.
WORKFORCE HOUSINGHousing with a sales price or rental amount within the means of a household that may occupy moderate income housing. In the case of dwelling units for sale, affordable means housing in which mortgage, amortization, taxes insurance, and condominium or association fees, if any, constitute no more than 30% of such gross annual household income for a household of the size that may occupy the unit in question. In the case of dwelling units for rent, affordable means housing for which the rent and basic utilities constitutes no more than 30% of such gross annual household income for a household of the size that may occupy the unit in question. Utilities for rental units include: electric/gas, trash, water and condominium or association fees.
WORKFORCE HOUSING DEVELOPMENT AGREEMENTA written agreement duly executed between the applicant for a development, the Township, and, if applicable, the designated third-party administrator of the Workforce Housing Program. Said agreement shall include, at minimum, all of the provisions established in §
27-716, Subsection
7.
WORKFORCE HOUSING DWELLING UNITA housing unit documented in an applicant's workforce housing development agreement as required in order to comply with the Workforce Housing Program requirements, subsidized by the federal or state government or subject to covenants and deed restrictions that ensure its continued affordability. When calculating the required percentage of workforce units in a development, any fractional result between 0.01 and 0.49 will be rounded down to the number immediately preceding it numerically, and any fractional result between 0.50 and 0.99 will be rounded up to the next consecutive whole number. However, the total workforce unit percentage shall not exceed 10% of the required total workforce housing units in the development.
WORKFORCE HOUSING FUNDThe fund created by Ferguson Township to receive funds generated from the administration of fee-in-lieu payments to support workforce housing within Ferguson Township.