Oakland Municipal Code Art. II Requirements for First-Time Homebuyer Program

The purposes of an Oakland residency requirement for first-time homebuyer programs are to ensure that Oakland renters have the opportunity to achieve the benefits of homeownership in Oakland, remedy or mitigate potential displacement and gentrification impacts of redevelopment activities in the City, provide an opportunity for existing Oakland residents to afford the housing provided by the City and stay in Oakland and benefit from the impacts of the City's redevelopment and community development efforts, and encourage neighborhood stability by providing a means for residents who have been active in a community to remain in the community in the face of increasing market rate rents and housing prices. The purposes of an Oakland worker requirement for first-time homebuyer programs are to encourage households working in Oakland to live near their workplaces, avoiding the negative environmental and traffic impacts of commuters traveling long distances between their jobs and their residences, and encourage businesses to locate in Oakland to take advantage of the affordable homeownership opportunities available to their workers. The purposes of a displaced household requirement for first-time homebuyer programs are to create a means for residents to return to their communities to improve neighborhood stability and to mitigate the impacts of gentrification and reduced availability of affordable ownership housing.

(Ord. No. 13379, § 2, 7-19-2016)

This policy shall apply to any of the City's mortgage assistance programs for first-time homebuyers.

(Ord. No. 13379, § 2, 7-19-2016)

All recipients of mortgage assistance under the first-time homebuyers program must be either an Oakland resident, an Oakland worker, or a displaced household. For purposes of this Section, an "Oakland resident" shall mean a household with at least one adult member whose principal place of residence on the date of application is within the City of Oakland. An "Oakland worker" shall mean a household with at least one adult member who is employed by an employer located within the City of Oakland, owns a business located within the City of Oakland, or participates in an education or job training program located within the City of Oakland. A "displaced household" shall have the meaning as set forth in Subsection 15.63.030.1 of this Code.

(Ord. No. 13379, § 2, 7-19-2016)

The requirement shall be non-durational, i.e., there shall be no minimum time period for Oakland residency or employment to qualify for the program. This policy shall be applied only if and to the extent that other funding sources for the program do not prohibit the policy. This policy shall be applied only if and to the extent that the policy does not violate applicable law.

(Ord. No. 13379, § 2, 7-19-2016)

The City Administrator is hereby authorized to issue rules and regulations implementing the Oakland residency, worker, and displacee policy consistent with this article.

(Ord. No. 13379, § 2, 7-19-2016)