[PART VI. 
SUSTAINABLE AFFORDABLE



DEVELOPMENTS
OR LEASES]



 



[§516-201]  Exemption for sustainable
affordable developments.  Notwithstanding any law to the contrary, no
lessee under a sustainable affordable lease may exercise the rights granted to
a lessee by part II and sections 516-63, 516-65, and 516-66.  The lessee under
a sustainable affordable lease may exercise rights under section 516-70;
provided that in no event shall compensation to the lessee for on-site
improvements at the termination or expiration of the lease term exceed the
lessee's share of the maximum sales price of a residential lot, including all
buildings and improvements, on resale as determined pursuant to paragraph (2)
of the definition of "sustainable affordable lease" in section 516-1. 
In addition, sections 516-5 and 516‑83 shall not apply to the fee owner
and lessor of land in a sustainable affordable development. [L 2005, c 197, pt
of §2]