17-80-402. Affordable home ownership density bonus for multi-family residential units.
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Effective 11/6/2025
17-80-402. Affordable home ownership density bonus for multi-family residential units.
(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 county approval of a density of at least 20 residential units per acre.
(2)If a county approves a qualifying affordable home ownership multi-family density bonus, either through a zoning ordinance or a development agreement, the county 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 county, in accordance with provisions of the Fair Housing Act, 42 U.S.C. Sec. 3601.
(3)A county 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 14 , 2025 Special Session 1