Affordable units in new housing (inclusionary) in Campbell

This chapter shall not apply to rental projects or for-sale projects that are developed in accordance with, and subject to, a recorded governmental agency deed restriction or regulatory agreement that imposes affordable rent, occupancy, and eligibility restrictions or affordable ownership cost and sale price restrictions with associated eligibility and occupancy restrictions on all residential units in the development, except for manager's units.

The initial in-lieu housing fee shall be set by City Council resolution based on an affordable housing analysis or nexus study which supports the initial fee rate and fee calculation method established in this Section.

The initial fee established, in accordance with Section 21.24.080.A. (Initial in- lieu housing fee.), shall be adjusted annually on July 1, based on the percentage change in the construction cost index from the previous year.

At least fifteen percent of all units in a residential project shall be made available at affordable rents or affordable ownership cost

Of these affordable units in for-sale projects, forty percent of the required fifteen percent, or six percent of the total units in the residential project, shall be offered at affordable ownership costs exclusively to low-income households

Of these affordable units in rental projects, forty percent of the required fifteen percent, or six percent of the total units in the residential project, shall be offered at affordable rents exclusively to very low- income households