St. Charles — Title 19 Inclusionary Housing [legal-review: § 19.02.110 rent-amount text] § 19.02.130

As part of the application for approval of a residential development, the applicant shall submit information describing how the residential development will comply with the requirements of this chapter. The Director of Community and Economic Development may require any or all of the following to be submitted for review: 1.
The number and rental/for sale status of market-rate units and affordable units to be constructed including type of dwelling, number of bedrooms per unit, proposed pricing, and construction schedule, including anticipated timing of issuance of building permits and occupancy certificates.
2. Documentation and plans regarding locations of affordable units and market-rate units, and their exterior appearance, materials, and finishes.
3. A description of the marketing plan that the applicant proposes to utilize and implement to promote the sale or rental of the affordable units within the development; and,
4. Any proposal to pay fees in lieu of providing the required affordable unit, per Section 19.02.060 .
5. Alternative affordable housing plan submittal requirements:
a. The applicant shall submit a financial statement or pro-forma including the following:
i. Purchase price of the property.
ii. Identification of the financial hardship and cost estimates associated with absorbing and/or remediating the identified hardship.
iii. All non-hardship development costs and expected profits.
b. Where the applicant will apply for external funding sources, the following is required:
i. An action plan clearly identifying the external funding sources that will be applied for during the construction phase and frequency of application to each funding source. The action plan shall clearly demonstrate that the project is eligible for the funding source that will be utilized.
ii. Commitment to providing a copy of all grant applications at the same time the application is submitted to the funding authority.
iii. Statement of the number of affordable units targeted to be affordable.
iv. Documentation and plans regarding locations of affordable units and market-rate units onsite or offsite, and their exterior appearance, materials, and finishes should external funding be awarded.
c. Where the applicant will purchase offsite units, the following is required:
i. An action plan or market study identifying the number of offsite units planned for purchase, the location of available offsite units, and purchase price of these units.
ii. Any supplemental information necessary to support the proposed plan such as, anticipated cost of renovations for offsite properties.
iii. The expected timing for the purchase of offsite units.
iv. Commitment to submitting a copy of the home inspection report to the City for review. This report shall include the following:
- Identification of the age and condition of all major systems (plumbing, HVAC, electrical, and structural)
- Identification and condition of all major appliances
- A list of all necessary repairs that the developer proposes to perform before the offsite unit is resold to an eligible household.
The developer shall provide a copy of this inspection report to the affordable household who has signed a contract to purchase the unit.