§ 25-1-703. PROGRAM REQUIREMENTS.

(A)

S.M.A.R.T. Housing is housing that is safe, mixed-income, accessible, reasonably priced, transit-oriented, and compliant with the City's Green Building Standards.

(B)

S.M.A.R.T. Housing must:

(1)

be safe by providing housing that complies with Title 25 of the City Code ( Land Development );

(2)

provide mixed-income housing by including dwelling units that are reasonably-priced, as described in Subsections (C) and (D);

(3)

provide for accessibility by:

(a)

including dwelling units that comply with the accessibility requirements of the Building Code in:

(1)

each building with four or more dwelling units; and

(2)

at least 10 percent of the dwelling units in each development; or

(b)

for a development with three or fewer dwelling units, complying with the design and construction requirements of Chapter 5-1, Article 3, Division 2 ( Design and Construction Requirements ); and

(4)

except as provided in Subsection (E), be located within one-half mile walking distance of a local public transit route at time of application; and

(5)

achieve at least a one star rating under the Austin Green Building program.

(C)

Except as provided in Subsection (D), a reasonably-priced dwelling unit is one that is affordable for purchase or rental by a household that meets the housing costs and income qualifications of this subsection.

(1)

This paragraph provides qualifications on the amount of household income spent on housing costs.

(a)

Except as provided by Subparagraphs (b) and (c), housing costs of a household may not exceed 30 percent of its gross income.

(b)

A household may spend up to 35 percent of its gross income on housing costs if a household member receives City-approved homebuyer counseling.

(c)

A household that complies with other federal, state, or local income eligibility standards is not subject to the expenditure qualifications of Paragraphs (a) and (b).

(2)

This paragraph provides qualifications on household income.

(a)

Except as provided in Subparagraph (b), the household income may not exceed 80 percent of the median family income.

(b)

In a Downtown Mixed Use (DMU) or Central Business District (CBD) base zoning district, household income may not exceed:

(i)

120 percent of the median family income for an owner-occupied dwelling unit; or

(ii)

80 percent of the median family income for a rental dwelling unit.

(D)

For a Vertical Mixed Use (VMU) building, a reasonably priced dwelling unit is one that meets the affordability requirements of Chapter 25-2, Subchapter E, Section 4.3.3.F ( Affordability Requirements ).

(E)

The director may waive the transit-oriented requirement in (B)(4) if the project meets one of the following criteria:

(1)

the project will be located in a high opportunity area as identified by the director and established in the program guidelines;

(2)

the application includes a letter from Capital Metropolitan Transportation Authority that confirms a future route is documented in agency plans;

(3)

developer applies for State or Federal Government funds, including the Low Income Housing Tax Credit Program, related to this project; or

(4)

project affirmatively furthers fair housing as determined by the Director and in consideration of the City's Analysis of Impediments.

Source: Ord. 20071129-100; Ord. No. 20141106-124, Pt. 3, 11-17-14 .