COUNCILMEMBER CLARKE MOVED TO AMEND BILL NO. 071005 AS FOLLOWS:
PROPOSED AMENDMENT TO BILL NO. 071005
Section 7-111 also is a Technical Amendment
TITLE 7. HOUSING CODE.
CHAPTER 7-100. INCLUSIONARY AFFORDABLE HOUSING.
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§7-102. Definitions.
(1) Affordable dwelling unit. A dwelling unit affordable for eligible households based on the affordability levels calculated pursuant to Section 7-107;
(2) Affordable AMI Dwelling Unit. A dwelling unit affordable for a household with income equal to AMI. Reserved.
(3) Affordable Below-AMI Dwelling Unit. A dwelling unit affordable for a household with income equal to sixty percent (60%) of AMI. Reserved.
(4) Affordable Price. The price, as determined by the Director, that a family with income at 80% 70% of AMI could afford to pay to purchase a dwelling unit, adjusted by the Director to account for size of family and size of unit.
(5) Fifteen Year Affordable Rent. The annual rent (multiplied by fifteen), as determined by the Director, that a family with income at 80% 70% of AMI could afford to pay to rent a dwelling unit, adjusted by the Director to account for size of family and size of unit.
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(13) Eligible household. A household where the income of the household is between sixty (60) percent and less than or equal to one hundred twenty-five (125) percent of the AMI and which holds a valid verification of eligibility from OHCD which entitles the household to buy or rent an affordable dwelling unit;
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§7-104. Inclusionary Affordable Housing Requirements.
(1) Any development project to which this Chapter applies must provide affordable dwelling units by complying with one of the following requirements:
(a) Providing affordable housing as follows:
(.1) Making five (5) percent of the dwelling units in the project Affordable AMI Dwelling Units affordable to households with incomes below 80% of AMI, such that the median price of these units is affordable to a household with income at 40% of AMI; and
(.2) Making five (5) percent of the dwelling units in the project Affordable Below-AMI Dwelling Units affordable to households with incomes below 125% of AMI, such that the median price of these units is affordable to a household with income at AMI; or
(b) Constructing affordable dwelling units on an off-site location within the City in a number equal to or greater than the total number of dwelling units in the proposed residential development project multiplied by 0.15, provided that half of such units are Affordable AMI Dwelling Units and half of such units are Affordable Below-AMI Unitscomply with subsection (a)(.1) above, and half of such units comply with subsection (a)(.2) above; and provided that the off-site proposal is approved by the Planning Commission; meets all zoning requirements of the district in which such units are proposed to be constructed; is completed no more than one (1) year after completion of the proposed residential development project; and complies with all other requirements of this Chapter. In the event the required number of off-site units are not available for occupancy within one year after a certificate of occupancy is issued for the original development project, the developer shall pay an Affordable Housing Fee to the City in accord with subsection (c), below, unless such one year period is extended by the Planning Commission, upon good cause shown.
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§7-105. Application and Affordable Housing Plan.
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(2) Affordable Housing Plan. As part of the application process, the applicant shall file with the Planning Commission an affordable housing plan that specifies the development's compliance with each of the applicable requirements of this Chapter. The plan shall be subject to the approval of the Planning Commission and shall be incorporated into the development agreement between the applicant and the City as required by Section 7-106. At a minimum, the plan shall contain the following information:
(a) A general description of the development, whether the development will contain rental or individually owned units, or both, and, if the affordable units will be built off-site, the location of such off-site units;
(b) The total number of market rate dwelling units, and Affordable AMI Dwelling Units and Affordable Below-AMI Dwelling Units; and for each such unit or group of units:
(.1) The number of bedrooms;
(.2) The square footage;
(.3) The sale or rental price;
(.4) The phasing and construction schedule; and
(.5) Documentation and plans regarding the exterior and interior appearances, materials and finishes of the development and each of the individual units;
(.6) The target household income range.
(3) The approval of the Planning Commission shall be required for any development covered by this Chapter and such approval shall become part of the development agreement entered into between the City and the applicant.
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§7-109. Initial Sale to Eligible Households.
(1) Every affordable dwelling unit required under this Chapter shall be sold or rented only to eligible households, for the buyer or renter's primary residence. One-half of such sales or rentals shall be to families with incomes that average the median of 0% of AMI and at or below 80% of AMI and the median income of such families shall be 40% of AMI;, and one-half of such sales or rentals shall be to families with that average the median of 80% AMI not to exceed with incomes at or below 125% of AMI and the median income of such families shall be equal to AMI.
(2) An applicant shall not sell or rent any affordable dwelling unit without first obtaining from the buyer or renter a verification of eligibility issued by the Director.
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§7-111. Declaration of Covenants, Conditions and Restrictions.
(1) Any development subject to the provisions of this Chapter shall also be subject to the following restrictions:
(a) The applicable portion of the development shall have recorded against it a Declaration of Covenants, Conditions and Restrictions requiring that the affordable housing units remain affordable for ten (10) years from the date of issuance of the certificate of occupancy, in the case of units for sale, and fifteen (15) years in the case of rental units. Such covenants shall be recorded by the developer with the Department of Records, shall run with the land for the entire ten (10) or fifteen (15) years, as applicable, and shall bind any owner of the affordable housing units and any other party with an interest in title to such units. In the case of units for sale, such covenants shall further require that, upon subsequent sale of such units after ten (10) years, the seller shall pay over to the City an amount equal to twenty (20) percent of the increase in market value. Such increase shall be calculated by subtracting from the sale price (i) any increase in value due to improvements; and (ii) the original sale price when the unit was first sold by the developer. Such payments shall be appropriated and spent by the City in the same manner as any payments pursuant to Section 7-104(1)(b), relating to Affordable Housing Fee.
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§7-115. Regulations.
(1) OHCD may promulgate regulations:
(a) Adjusting the percentage requirements set forth in Section 7-104(1) to account for rounding differences or to allow for similar minor deviations.
(b) Allowing for minor deviations from the median incomes set forth in Sections 7-104(1)(a) and 7-109(1), to account for the practical inability to find households with precisely the income levels called for by said Sections.
(c) Otherwise to implement the intent of this Chapter.
SECTION 2. This Ordinance shall take effect upon the adoption by Council of legislation that includes, but is not limited to, the following developer incentives: certifying that developer incentives, which include but need not be limited to, building code modifications, expedited permitting, enacting certain tax credits, and the provision of land for affordable units at reduced or nominal consideration, are in place. and This Ordinance shall apply to any development for which an application for a zoning permit is filed on or after such date.
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Explanation:
Italics indicate new matter added.
THE AMENDMENT WAS READ
COUNCILMEMBER CLARKE MOVED FOR THE ADOPTION OF THE AMENDMENT
THE MOTION WAS DULY SECONDED AND AGREED TO
THE AMENDMENT TO BILL NO. 071005 WAS ADOPTED