Displacement. Where a proposed development which is subject to the provisions of Section 9.1 displaces any households which are earning less than 80% of the area median income (as defined by HUD on an annual basis) of households within the Standard Metropolitan Statistical Area that includes Waltham, as published by the United States Department of Commerce, or estimates of these income figures as prepared by the United States Department of Housing and Urban Development, these households shall be offered affordable dwelling units, up to the number of such units which are required to meet the affordable housing requirements applied to that particular development, and provided, further, that all replacement units must have at least the same number of bedrooms as the unit being replaced. If the instance arises that said income-eligible households are displaced, either temporarily or permanently, the developer will provide to the displaced household moving expenses, technical assistance in finding comparable units and financial assistance in the form of a one-time payment, upon displacement, that may be used as a security deposit and/or first or last month's rent deposit. This payment shall be the equivalent of three times the monthly rent prior to displacement paid within 90 days of displacement. Priority for the location of the comparable units is:

(Reserved)

Assignment. The applicant shall sell, lease or otherwise assign, at reduced prices, a specific number of dwelling units which equal 15% of the total number of dwelling units in the proposed development, to individuals and/or families meeting the income guidelines below. Provided, however, that if a proposed development will contain more than 18 dwelling units, then the applicant shall sell, lease or otherwise assign, at reduced prices, a specific number of dwelling units which equal 20%, rather than 15%, of the total number of dwelling units in the proposed development, to individuals and/or families meeting the income guidelines below. Resulting fractions of dwelling units shall be treated as indicated in Section 9.145. The reduced prices shall be set by the requirements of the state or federal funding source used for the construction of the development and/or to subsidize the affordable units or, where City of Waltham Municipal Affordable Housing Trust Fund is used, by those regulations of the City of Waltham Municipal Affordable Housing Trust Fund which are not inconsistent with federal or state requirements. Where no state, federal or local funds are used, the prices shall be consistent with price limits used by the United States Department of Housing and Urban Development (HUD) targeted for households earning less than 80% of the area median income (as defined by HUD on an annual basis) within the Standard Metropolitan Statistical Area that includes Waltham, provided further that at least 1/3 of the units sold, leased, or otherwise assigned shall be priced consistent with price limits used by the United States Department of Housing and Urban Development (HUD) targeted for households earning less than 50% of the area median income (as defined by HUD on an annual basis) within the Standard Metropolitan Statistical Area that includes Waltham. The affordable housing restriction shall run with the land and be in force in perpetuity, and be enforceable under the provisions of Chapter 184, Section 26 or Sections 31 through 32 of the General Laws, including the recording of a deed restriction. The required deed restriction shall be in such form as to comply with DHCD requirements. Such deed restrictions shall bear the signature of the Secretary of the Massachusetts Department of Housing and Community Development (DHCD) and be recorded at the Registry of Deeds. The deed restriction must be recorded by the applicant once signed by the Secretary, and no units may be permitted to be sold, leased, or otherwise assigned until said deed restriction is recorded and proof thereof provided to the Building Inspector. The sale, lease or assignment shall occur within 30 days of the receipt of a temporary or permanent occupancy permit. Dwelling units selected for sale, lease, or assignment as affordable shall equal or surpass the average size and quality of all units in the development. Should a dwelling unit subject to rental limitations under Section 9.142 be converted to a condominium, the qualified tenant of the unit shall have first right of refusal to purchase the unit at a price conforming to limits established under Section 9.142. Should the tenant not choose to purchase the unit, either:

Fee in lieu of dwelling units. The applicant shall provide a cash fee in lieu of on-site affordable housing dwelling units. As the basis for determining the amount of the cash fee, the City Council shall use the appropriate current year edition of Building Construction Cost Data, published by the R.S. Means Company of Kingston, Massachusetts, or if such publication ceases to exist, an equivalent recognized construction cost publication. The City Council shall calculate 15% of total development cost (TDC) by using total development cost estimates and, for construction, more specifically by using the relevant R.S. Means or equivalent data referenced above. Provided that, for proposed developments of more than 18 dwelling units, the percentage of total development costs to be calculated as identified in the preceding sentence and below shall be 20% rather than the 15% required to be calculated for developments of eight to 18 dwelling units. The TDC shall comprise all development costs recognized under state, federal or local programs used. Where state, federal or local funds are not used, the TDC shall be consistent with development costs recognized under the HUD targeted for households earning less than 80% of the area median income (as defined by HUD on an annual basis) within the Standard Metropolitan Statistical Area that includes Waltham, complying with the HUD Unit Total Development (TDC) Limits that are published annually. Should the building permit or special permit for the project expire before completion of the project, the fee may be adjusted to reflect updated TDC for the project. The resulting dollar value, rounded to whole dollars, shall be known as the "fee in lieu of dwelling units" ("fee") and shall be paid directly to the City of Waltham Municipal Affordable Housing Trust Fund. The fee shall be paid prior to issuance of an occupancy permit issued pursuant to the special permit or, for a phased development, a part of the fee shall be paid in proportion to the percent of the development for which each occupancy permit is being issued.

Purchase or construction of off-site dwelling units. The City of Waltham Municipal Affordable Housing Trust Fund shall be directed by the City Council to calculate the fee in lieu of dwelling units and use said fee to purchase existing housing units in the City of Waltham or to build new housing units, off site in the City of Waltham. Ownership of units which are purchased or built as affordable housing units shall be transferred to the City of Waltham Municipal Affordable Housing Trust Fund or the Waltham Housing Authority (WHA) or the WHA's designee, within 30 days of the receipt by the applicant of a temporary or permanent occupancy permit for the applicant's original development. In order to ensure that the value of the purchased, rehabilitated or newly constructed housing, including rehabilitation costs where applicable, is of an equivalent value to said fee, the applicant shall be required to contract for an independent appraisal of the housing units and to receive approval for all purchases and rehabilitation and other services from the City of Waltham Municipal Affordable Housing Trust Fund, including City of Waltham Municipal Affordable Housing Trust Fund approval of the firm which will conduct the appraisal. In addition, the appraisal firm shall be selected from a list provided by the City of Waltham Municipal Affordable Housing Trust Fund. If the value of said housing units is less than the total amount of the fee, the applicant shall, at the time of the transfer of ownership of said housing to the City of Waltham Municipal Affordable Housing Trust Fund, the Waltham Housing Authority (WHA), or the WHA's designee, make a payment to the City of Waltham Municipal Affordable Housing Trust Fund of a sum of money which is equal to the full amount of the difference between the amount of the fee in lieu of dwelling units and the value of the purchased, rehabilitated or newly constructed housing.

If, when applying a specified percentage to calculate the required number of units, the resulting number of dwelling units includes a fraction of a unit this fraction, if equal to or greater than 1/2, shall be rounded up to the next whole number.