Oakdale City Zoning Code
§ 36-18.20.7
Affordability and Development Standards.
[Ord. No. 1132, § 2, Exh. A.]
A.
Target units shall be constructed concurrently with non-restricted units or pursuant to a schedule included in the density bonus housing agreement.
B.
Target units offered for rent for low income and very low income households shall be made available for rent at an affordable rent and shall remain restricted and affordable to the designated income group for a minimum period of thirty (30) years. A longer period of time may be specified if required by any construction or mortgage financing assistance program, mortgage insurance program, or rental subsidy program applicable to the housing development.
C.
Target units offered for sale to very low, low, or moderate income households in condominiums and planned developments shall be sold at an affordable ownership cost. The maximum resale price shall be the lower of: (1) fair market value or (2) the seller's initial purchase price, increased by the lesser of (A) the rate of increase of area median income during the seller's ownership or (B) the rate at which the consumer price index increased during the seller's ownership. The seller of the unit shall retain the market value at the time of sale of any capital improvements made by the seller, the down payment, and the seller's proportionate share of appreciation. Because this subsection limits the seller's appreciation, the seller's proportionate share of appreciation is one hundred (100%) percent.
D.
Target units shall be built on-site, unless off-site construction is approved at the City's discretion, and shall be dispersed within the housing development. The number of bedrooms of the target units shall be equivalent to the bedroom mix of the non-target units of the housing development, except that the developer may include a higher proportion of target units with more bedrooms. The design and appearance of the target units shall be compatible with the design of the total housing development. Housing developments shall comply with all applicable development standards, except those which may be modified as provided by this section.
E.
1.
Upon the request of the developer, the City shall not require a vehicular parking ratio, inclusive of handicapped and guest parking, of a development meeting the criteria of § 36-18.20.3A that exceeds the following ratios:
2.
If the total number of parking spaces required for a development is other than a whole number, the number shall be rounded up to the next whole number. For purposes of this section, a development may provide "on-site parking" through tandem parking or uncovered parking, but not through on-street parking.