Secondary and Cumulative Impacts Master Management Plan - 2014

Article 6 Density Bonuses 6-21 Workforce Housing

6-21-2 Bonuses The following density bonuses will be granted to developments in which the developer commits to restricting housing rental or sales prices to the following levels: (A) One extra dwelling unit is allowed for each 4 rental units restricted to occupancy by households with incomes of less than 50% of the Wake County median income, as determined by the U.S. Department of Housing and Urban Development (HUD); and (B) One extra dwelling unit is allowed for each 4 sales (ownership) units restricted to occupancy by households with incomes of less than 80% of the Wake County median income, as determined by the U.S. Department of Housing and Urban Development (HUD). 6-21-3 Combination with County Financial Incentives Workforce housing density bonuses are not allowed for housing units that receive direct financial assistance or subsidies from Wake County. 6-21-4 Rental Contracts Approval of any plans or plats that include bonus density for providing rental workforce housing units may not occur until there is a contract between the property owner and Wake County, which must be binding on future owners of the designated workforce housing lots. The contract must be administered by the Housing and Community Revitalization Division of the Wake County Human Services Department, and include at least the following provisions: (A) All rentals must be approved by the Housing and Community Revitalization Division of the Wake County Human Services Department to ensure occupancy by qualifying households in accordance with the following eligibility criteria: (1) Family income at the time of occupancy may not exceed the limits set forth in Sec. 6- 21-2. Families whose income increases above the eligibility requirements may continue to occupy the rental unit, unless otherwise required through terms of the lease. (2) At least one member of a qualifying household must have lived or worked in Wake County for the past 12 months. (B) The contract must apply to each of the designated workforce housing units, and continue to affect a particular unit for a minimum period of 15 years after the initial rental of that unit. (C) Every change in occupancy during the 15-year term of the contract must be approved by the Housing and Community Revitalization Division of the Wake County Human Services Department to assure continued compliance with eligibility criteria. (D) The maximum rent allowed must be computed by multiplying the applicable percentage of median income by HUD’s reported Wake County median income at the time of the transaction, then multiplying the resulting value by the maximum percentage of income spent for housing, as recommended by the mortgage banking industry. The value for median income used in calculating maximum allowable rent must be adjusted to reflect the maximum family size appropriate for the number of bedrooms, as determined by the Housing and Community Revitalization Division of the Wake County Human Services Department.

Wake County Unified Development Code 6-2