An ordinance to amend Title 17 of the Metropolitan Code of Laws, the Zoning Ordinance of the Metropolitan Government of Nashville and Davidson County, to change the number of years an affordable housing unit must remain affordable granted under Special Floor Area and Development Bonus provisions in the Zoning Code. (Proposal No. 2005Z-106T).

WHEREAS, the Metropolitan Government of Nashville and Davidson County is committed to providing affordable housing to maintain a healthy mix of housing options for residents of all ages and incomes;

WHEREAS, developing affordable housing requires the active involvement of both the public and private sectors and it has been demonstrated that the commitment of the private sector is enhanced through the use of incentives;

WHEREAS, it is advantageous for the Metropolitan Government of Nashville and Davidson County to align the structure of incentives across programs and policies to make incentives more attractive and effective.

NOW, THEREFORE, BE IT ENACTED BY THE COUNTY OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

SECTION 1 By amending Section 17.12.070 B.2.of the Metropolitan Code by deleting the word "twenty" and substituting in lieu thereof, the word "seven".

SECTION 2. By amending Section 17.36.090.B.3 by deleting the second sentence, and inserting in its place the following: "Prior to receipt of a zoning permit from the zoning administrator, the property owner shall record restrictive covenants with the register of deeds identifying those affordable residential units to be sold or leased for a period of at least seven years."

SECTION 3 BE IT FURTHER ENACTED, that this ordinance take effect immediately after its passage and such change be published in a newspaper of general circulation, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: J. B. Loring

LEGISLATIVE HISTORY
Introduced:	February 7, 2006
Passed First Reading:	February 7, 2006
Referred to:	Planning Commission - Approved 9-0 (January 26, 2006) Planning & Zoning Committee
Passed Second Reading:	March 7, 2006
Passed Third Reading:	March 21, 2006
Approved:	March 30, 2006
By:
Effective:	April 1, 2006