10-21-401. Affordable home ownership density bonus for single-family residential units.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 11/6/2025

(1)As used in this section:

(a)"Affordable housing" means a dwelling:

(i)offered for sale to an owner-occupier at a purchase price affordable to a household with a gross income of no more than 120% of area median income for the county in which the residential unit is offered for sale; or

(ii)offered for rent at a rental price affordable to a household with a gross income of no more than 80% of area median income for the county in which the residential unit is offered for rent.

(b)"Owner-occupier" means an individual who owns, solely or jointly, a housing unit in which the individual lives as the individual's primary residence.

(c)"Qualifying affordable home ownership single-family density bonus" means:

(i)for an area with an underlying zoning density of less than six residential units per acre, municipal approval of a density at least six residential units per acre; or

(ii)for an area with an underlying zoning density of six residential units per acre or more, municipal approval of a density at least 0.5 residential units per acre greater than the underlying zoning density for the area.

(2)If a municipality approves a qualifying affordable home ownership single-family density bonus, either through a zoning ordinance or a development agreement, the municipality may adopt requirements for the qualifying affordable home ownership single-family density bonus area to ensure:

(a)at least 60% of the total single-family residential units be deed-restricted to owner-occupancy for at least five years;

(b)at least 25% of the total single-family residential units qualify as affordable housing;

(c)at least 25% of the single-family residential units per acre to be no larger than 1,600 square feet; or

(d)the applicant creates a preferential qualifying buyer program in which a single-family residential unit is initially offered for sale, for up to 30 days, to a category of preferred qualifying buyers established by the municipality, in accordance with provisions of the Fair Housing Act, 42 U.S.C. Sec. 3601.

(3)A municipality may offer additional incentives in a qualifying affordable home ownership single-family density bonus area approved for single-family residential units to promote owner-occupied, affordable housing.

Renumbered and Amended by Chapter 15 , 2025 Special Session 1