10-21-402. Affordable home ownership density bonus for multi-family residential units.

274 words·~1 min read·/ut/title-10/chapter-21/10-21-402

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 the same as that term is defined in Section 10-21-401 .

(b)"Owner-occupier" means the same as that term is defined in Section 10-21-401 .

(c)"Qualifying affordable home ownership multi-family density bonus" means municipal approval of a density of at least 20 residential units per acre.

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

(a)at least 20% more residential units per acre than are otherwise allowed in the area;

(b)at least 60% of the total units in the multi-family residential building be deed-restricted to owner-occupancy for at least five years;

(c)at least 25% of the total units in the multi-family residential building qualify as affordable housing;

(d)at least 25% of the total units in a multi-family residential building to be no larger than 1,600 square feet; or

(e)the applicant creates a preferential qualifying buyer program in which a unit in a multi-family residential building 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 multi-family density bonus area for multi-family residential units to promote owner-occupied, affordable housing.

Renumbered and Amended by Chapter 15 , 2025 Special Session 1