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A. Fee waiver grantees shall be required to provide a certified written annual report to the city of Lacey and the designated agency demonstrating continued compliance with affordable housing requirements as well as reporting occupancy and vacancy statistics of the affordable housing units.

B. If an applicant is planning to utilize a third-party entity to provide and manage the affordable units, the applicant and the third party must enter into an agreement that clarifies the management, use and oversight of the affordable components. This agreement is in addition to a deed restriction and/or affordability covenant.

C. The affordable units shall be distributed proportionally throughout the development, appropriately designed and integrated with the market-rate units, and, as feasible, contain the same number of bedrooms as the market-rate units. Thirty percent of affordable units must be delivered in the first phase (where applicable) and the remainder of the units must be delivered proportionally based on the development build-out and phasing.

D. The waiving of fees will only apply to the affordable units within a development. The city will not waive fees for market-rate units. (Ord. 1612 §19, 2022).