§ 16-29. Price limitations.

(a)

Price limitation for affordable dwelling units for purchase. In the case of an affordable dwelling unit for purchase, only the price of the initial sale of such unit to an owner-occupant household shall be limited by the provisions of this article, and the price of any subsequent resale of such unit shall not be limited.

(b)

Price limitation period for affordable dwelling units for rental. In the case of an affordable dwelling unit for rental, the rental price shall be limited in accordance with the provisions of this article and the applicable rules and standards for a period of 50 years after the initial rental transaction for such unit.

(Code 2004, § 58-81; Ord. No. 2008-39-59, § 2, 3-24-2008)

(Code 2004, § 58-81; Ord. No. 2008-39-59, § 2, 3-24-2008)