A. Authority. The Growth Management Act requires the city to provide housing opportunities for all economic segments of the community. Similarly the city’s comprehensive plan encourages revisions to the city’s development regulations to increase the supply of affordable housing.

B. Purpose. The purpose of this chapter is to facilitate the construction of innovative owner-occupied affordable homes by organizations or applicants that can demonstrate an ability to finance, manage, and monitor affordable home sales to assure continued affordability. This chapter replaces Chapter 20.27 BMC, Demonstration Program for Innovative Permanently Affordable Homeownership Projects, which expired on December 31, 2014. [Ord. 2020-03-005 § 1].