As a condition of approval for a senior housing development special permit, 15% of the residential units created in the senior housing development shall be affordable homeownership units in perpetuity. If the affordable housing calculation results in a fraction of a unit, the fraction shall be rounded to the nearest whole number.
Each affordable homeownership unit shall be subject to an affordable housing restriction in accordance with § 200-108E, and the initial purchase price for that affordable homeownership unit shall meet the criteria of § 200-108C(1)(b) and shall comply with applicable DHCD regulations as to for-sale affordable units.
Affordable units shall meet the requirements of the Department of Housing and Community Development (DHCD) Local Initiative Program (LIP) for inclusion on the Chapter 40B Subsidized Housing Inventory.