D.C. Mun. Regs. tit. 10, r. 10-B6406

Current through Register Vol. 71, No. 44, November 1, 2024

Rule 10-B6406 - AFFORDABILITY COVENANT

6406.1

Prior to the issuance of the tax abatement certification by DHCD, the developer shall file an affordability covenant in the land records, which shall be binding on the developer and all of its successors, including assigns in interest with respect to the development, covenanting to comply with the requirements of D.C. Official Code §47-859.06(a)(3).

6406.2

The affordability covenant shall include the following:

(a) The affordable residential units shall meet the square footage, design, material, finish, amenity, and other requirements of, and be administered pursuant to the same rules and standards that apply to, Inclusionary Units, including Title 14, Chapter 22 of the DCMR;

(b) The time period during which each affordable residential unit must be maintained as an affordable residential unit;

(c) The number of affordable residential units required to be included and maintained as part of the development;

(d) The method by which the income of a household residing in an affordable residential unit will be calculated;

(e) The maximum allowable Median Family Income level for each affordable residential unit, and that the maximum allowable rents and maximum allowable incomes will be determined by the then-current Inclusionary Zoning price schedule;

(f) Requirements for annual re-certification of household income and size for each affordable residential unit;

(g) Initial designation of the affordable residential units; and

(h) The process for redesignating affordable residential units if a household's income exceeds the maximum allowable income for the unit upon lease renewal.

D.C. Mun. Regs. tit. 10, r. 10-B6406

Final Rulemaking published at 68 DCR 1348 (2/18/2022)