The Philadelphia City Council has enacted an amendment to Section 14-533 of The Philadelphia Code, specifically impacting the /MIN, Mixed Income Neighborhoods Overlay District. This amendment introduces an exemption from existing requirements that mandate a certain percentage (15% and 20%) of dwelling units be provided and maintained as affordable on-site. The exemption applies to residential developments under programs certified by the Department of Planning and Development. These programs are designed to create owner-occupied housing for first-time homebuyers, where average monthly costs meet HUD affordability standards for households earning up to 100% of the Area Median Income (AMI). Each exempt unit will be bound by a restrictive covenant or regulatory agreement with the City or a housing-financing agency, ensuring ongoing affordability requirements. This legislative change aims to facilitate the creation of affordable homeownership opportunities by removing specific set-aside requirements for qualifying programs.