§ 27-107 — Incentive for producing MPDUs

Sec. 27-107. - Incentive for producing MPDUs.

(a) Standard incentive. The director is authorized to reimburse the producer of the MPDUs a tiered amount based on statistical neighborhood category as further defined in the rules and regulations up to twenty-five thousand dollars ($25,000.00) per MPDU built, up to fifty (50) percent of the total units in a development. The director is further authorized to reimburse the producer of the MPDUs an additional five thousand dollars ($5,000.00) per MPDU built which is affordable to households earning no more than sixty (60) percent of AMI, adjusted for household size, up to fifty (50) percent of the total units in a development, unless the producer has provided MPDUs at this affordability level as a result of an alternative being granted under [section] 27-106, in which case the average need level incentive will apply. The amount of reimbursement to any one producer of MPDUs is limited to a maximum of two hundred fifty thousand dollars ($250,000.00) per development per year; however, if a producer of MPDUs constructs MPDUs in a high cost structure, then this maximum yearly limit shall not apply. The amount of reimbursement is limited to the amount available in the special revenue fund. Furthermore, this incentive will only be made available to developments that provide the minimum number of MPDUs required by this article and at the tiered level for the statistical neighborhood category where the MPDU is constructed. The director is authorized to establish procedures through rules and regulations for reimbursement from the special revenue fund and for the manner of payment of incentives. The director may seek annual appropriation in order to adequately fund the special revenue fund. (b) The standard incentive(s) set forth in this section shall be in addition to any supplemental incentives available, whether in this article, in other governmental incentive programs, or elsewhere. (c) The standard incentive amount requested shall be set forth in the applicant's MPDU plan and if the applicant is not identical to the producer of MPDUs the applicant shall fully identify the producer.

(Ord. No. 617-02, § 1, 8-5-02; Ord. No. 654-02, § 3, 8-12-02; Ord. No. 710-06, § 4, 10-30-06; Ord. No. 475-14, § 7, 8-25-14)