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exceed $50,000,000 adjusted by a factor equal to the | | percentage change in the United States Bureau of Labor | | Statistics Consumer Price Index, United States City Average | | from January 1, 2002 to the date of calculation. |
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| | | E.__The affordable housing development program must show | | that the development meets an identified community housing | | need.__The affordable housing development program must | | provide a mechanism to ensure the ongoing affordability for | | a period of at least 10 years for single-family, owner- | | occupied units and 30 years for rental units. |
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| | | F.__Acquisition, construction and installment of all | | property improvements, buildings, structures, fixtures and | | equipment included within the affordable housing development | | program and financed through municipal bonded indebtedness | | must be completed within 5 years of the director's approval | | of the designation of the affordable housing development | | district. |
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| | | G.__The district must be primarily a residential development | | on which at least 33% of the dwelling units are affordable | | housing and that may be designed to be compact and walkable | | and to include internal open space, other common open space | | and one or more small-scale nonresidential uses of service | | to the residents of the development. |
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| | | 4.__Powers of municipality.__Within an affordable housing | | development district and consistent with an affordable housing | | development program, a municipality may acquire, construct, | | reconstruct, improve, preserve, alter, extend, operate or | | maintain property or promote development intended to meet the | | objectives of the affordable housing development program. | | Pursuant to the affordable housing development program, the | | municipality may acquire property, land or easements through | | negotiation or by using eminent domain powers in the manner | | authorized for community development programs under section 5204. | | The municipality's legislative body may adopt ordinances | | regulating traffic in and access to any facilities constructed | | within the affordable housing development district. The | | municipality may install public improvements. |
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| | | §5248.__Affordable housing development programs |
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| | | 1.__Adoption.__The legislative body of a municipality shall | | adopt an affordable housing development program for each | | affordable housing development district. The affordable housing | | development program must be adopted at the same time as the | | district as part of the district adoption proceedings or, if at a | | different time, in the same manner as adoption of the district, |
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