§ 62-6301. Definitions.

Affordable means that monthly rents or monthly mortgage payments including taxes and insurance do not exceed 30 percent of that amount which represents the percentage of the median annual gross income for the households as indicated in the definitions of low, moderate and very-low income persons or households as listed below. However, it is not the intent to limit an individual household's ability to devote more than 30 percent of its income for housing, and housing for which a household devotes more than 30 percent of its income shall be deemed affordable if the first institutional mortgage lender is satisfied that the household can afford mortgage payments in excess of the 30 percent benchmark.

Moderate-income person or moderate-income household means one or more natural persons or a family that has a total annual gross household income that does not exceed 120 percent of the median annual income adjusted for family size for households within the metropolitan statistical area, the county, or the non-metropolitan median for the state, whichever is greatest.

Low-income person or low-income household means one or more natural persons or a family that has a total annual gross household income that does not exceed 80 percent of the median annual income adjusted for family size for households within the metropolitan statistical area, the county, or the non-metropolitan median for the state, whichever amount is greatest.

Very-low-income person or very-low-income household means one or more natural persons or a family that has a total annual gross household income that does not exceed 50 percent of the median annual income adjusted for family size for households.

Affordable housing means a single-family owner occupied, or multi-family owner occupied, or rental unit, that has a mortgage or rental payment, including utilities, not exceeding 30 percent of the gross income of households at or below 120 percent of the area median income (AMI), as adjusted for family size.

Affordable housing developments (AHD) means a single-family owner occupied, or multi-family owner occupied, or rental developments in which a minimum of 30 percent of the total units are set-aside for households at or below 120 percent of the area median income (AMI).

Within the 30 percent set-aside:

• No less than 30 percent shall be designated for households up to 50 percent AMI;

• No less than 30 percent shall be designated for households between 51 percent to 80 percent AMI; and

• No more than 40 percent shall be designated for households between 81 percent and 120 percent AMI.

Income limits are updated periodically and are available from the housing and human services department, upon request. Affordable single-family ownership units shall be designated for households at or below 80 percent AMI.

Example: If a builder or developer proposed a 100 unit development; to receive incentives under the "affordable housing" status the development would need to set-aside 30 units as affordable. Of the 30 units, a minimum of 30 percent or nine units would need to serve households at or below 50 percent of the AMI, another minimum of 30 percent or nine units would need to be set-aside to serve households between 51 percent to 80 percent AMI, and no more than 40 percent or 12 units would need to be set-aside to serve households between 81 percent and 120 percent AMI.

Affordable housing tax credit eligible (AHTC) means a rental unit that has a payment, including utilities, not exceeding 30 percent of the gross income of households at or below 60 percent of the area median income (AMI), as adjusted for family size.

Affordable housing tax credit eligible developments (AHTCD) means multi-family rental developments in which a minimum of 40 percent of the total units are set-aside for households at or below 60 percent of the area median income (AMI) or less adjusted for family size, or which a minimum of 20 percent of the total units are set aside for households at or below 50 percent of the area median income (AMI) or less adjusted for family size and which a minimum of 15 percent of the total units are set-aside for households at or below 35 percent of the area median income (AMI) or less adjusted for family size. Income limits are updated periodically and are available from the housing and human services department, upon request.

Example (40 percent of units at 60 percent AMI): If a builder or developer proposed a 100 unit development; to receive incentives under the "Affordable Housing, AHTC" status the development would need to set aside 40 percent or 40 units as affordable AHTC serving households at or below 60 percent of the AMI. Within the set-aside a minimum of 15 percent or three units would need to be set-aside to serve households at or below 35 percent of AMI.

Example (20 percent of units at 50 percent AMI): If a builder or developer proposed a 100 unit development; to receive incentives under the "Affordable Housing, AHTC" status the development would need to set-aside 20 percent or 20 units as affordable AHTC serving households at or below 50 percent of the AMI. Within the set-aside a minimum of 15 percent or three units would need to be set-aside to serve households at or below 35 percent of AMI.

Adjusted for family size means adjusted in a manner that results in an income eligibility level that is lower for households having fewer than four people, or higher for households having more than four people, than the base income eligibility determined as provided in the definitions of low, moderate and very-low income persons or households, based upon a formula established by the United States Department of Housing and Urban Development.

Annual gross income means annual income as defined under the Section 8 housing assistance payments programs in 24 C.F.R. part 5; annual income as reported under the census long form for the recent available decennial census; or adjusted gross income as defined for purposes of reporting under Internal Revenue Service Form 1040 for individual federal annual income tax purposes. Counties and eligible municipalities shall calculate income by annualizing verified sources of income for the household as the amount of income to be received in a household during the 12 months following the effective date of the determination.

Area median income means the median family income in the county, adjusted for family size, as published by the U.S. Department of Housing and Urban Development annually.

Land trust means a development organization which acquires or develops parcels of land for the primary purpose of providing affordable housing in perpetuity through conveyance of the structural improvement subject to a long-term ground lease which retains a preemptive option to purchase any such structural improvement at a price determined by a formula designed to ensure the improvement remains affordable in perpetuity.

Location evaluation matrix and needs analysis means a data collection and analysis tool and document applied to a potential development site requesting incentives or funds. This tool will assist staff with determining site suitability, and verifying currently available affordable/workforce housing stock in the immediate area, utilizing the best available federal census, or other recognized housing data sources or studies.

Local housing assistance plan means a concise description of the local housing assistance strategies and local housing incentive strategies adopted by local government resolution with an explanation of the way in which the program meets the requirements of F.S. §§ 420.907—420.9079 and Florida Housing Finance Corporation rule.

Maximum eligible sales price means the sales price or value for a new or existing property, including the lot, not exceeding 90 percent of the area median purchase price, as provided by the Florida Housing Finance Corporation.

Principal residence means the household must utilize the property as their primary residence, as established by eligibility for the state department of revenue property tax homestead exemption. The household may not vacate the unit for more than 120 consecutive days in any one calendar year for any reason, other than a hospital or nursing home stay.

Residential means a structure or structures solely dedicated to the housing of a person or persons to live, cook and/or sleep within on a permanent basis, as either owner, renter or lessee provided, however, that adult congregate living facilities, retirement homes, nursing homes and other structures operated by a social service organization to provide residential care to children, the aged, the destitute and the physically, mentally and/or emotionally challenged shall be considered to be commercial land uses as defined herein.

Workforce means that monthly rents or monthly mortgage payments including taxes and insurance do not exceed 30 percent of that amount which represents the percentage of the median annual gross income for the households as indicated in the definition of workforce persons or households as listed below. However, it is not the intent to limit an individual household's ability to devote more than 30 percent of its income for housing, and housing for which a household devotes more than 30 percent of its income shall be deemed affordable if the first institutional mortgage lender is satisfied that the household can afford mortgage payments in excess of the 30 percent benchmark.

Workforce person or households means one or more natural persons or a family that has a total annual gross household income that does not exceed 140 percent of the median annual income adjusted for family size for households within the metropolitan statistical area, the county, or the non-metropolitan median for the state, whichever is greatest.

Workforce housing means a single-family owner occupied, or multi-family owner occupied, or rental unit, that has a mortgage or rental payment, including utilities, not exceeding 20 percent of the annual gross income of households at or below 140 percent of the area median income (AMI), as adjusted for family size.

Workforce housing developments (WFHD) mean single-family or multi-family, owner occupied developments in which a minimum of 15 percent of the total units are available to households with an income no higher than 140 percent AMI, and the units sales price can not exceed 20 percent above the moderate income home sales price established by the Florida Housing Finance Corporation, both of which may be adjusted from time to time. Income limits and sales prices are updated periodically and are available from the housing and human services department, upon request.

Example: If a builder or developer proposed a 100-unit development; to receive incentives under the "workforce housing" status, the development would need to set-aside 15 units as workforce serving households with incomes no higher than 140 percent of AMI.

(Ord. No. 07-18, § 3, 5-3-07)