San Luis Obispo County Municipal Code Ch. 29.02 Establishment of Fees and Fund

(a) The In-Lieu Fee is Hereby Established. Title 22, Section 22.12.080 and Title 23, Section 23.04.096 — Inclusionary housing, set forth the inclusionary housing requirement of each development project and the options the applicant may choose to satisfy the requirement. At the option of the applicant, the in-lieu fee may be imposed as a condition of permits for, or the approval of, new residential development projects within the county in order to satisfy the inclusionary housing requirement.

(b) The Housing Impact Fee is Hereby Established. The said fee is to be imposed as a condition of permits for, or the approval of, new development projects within the county. All housing impact fee(s) shall be deposited into the housing impact fee account and used solely to pay for construction of affordable housing units within the projects identified in the affordable housing fund annual action plan.

(Ord. No. 3171, § 1, 12-9-08)

(a) There is hereby established by the county auditor-controller in the county treasury an interest-bearing fund entitled the San Luis Obispo County affordable housing fund. The said fund shall receive all fees collected pursuant to Title 22 Section 22.12.080.D.2 — In-lieu fee, Title 23 Section 23.04.096.d(2) — In-lieu fee, any other appropriations as determined from time to time by the County, and all other moneys received by the affordable housing fund either from special funds or general fund appropriations, or from other sources. Separate accounts within the affordable housing fund may be created from time to time to avoid commingling if required by law or as deemed appropriate to further the purposes of the fund.

(b) There is also hereby established within the affordable housing fund, a housing impact fee account. The said account shall receive all fees collected from commercial and industrial development pursuant to Title 22 Section 22.12.080.E.2 — Payment of housing impact fee, and Title 23 Section 23.04.096.e(2) — Payment of housing impact fee. All funds in this account shall be used solely to pay for construction of affordable housing units within the projects identified in the affordable housing fund annual action plan.

(c) Principal and interest from loan repayments, proceeds from grant repayments, forfeitures, reimbursements, and all other income from affordable housing fund activities, plus all income from the activities of the fund's separate accounts, shall be deposited into the affordable housing fund. All funds in the account shall earn interest at least at the same rate as pooled investments managed by the treasurer. All interest earnings from the account shall be reinvested and dedicated to the account. Transfer of interest earnings shall be made quarterly or upon direction of the county administrator. Transferred funds shall accrue interest from the time of transfer.

(Ord. No. 3171, § 1, 12-9-08; Ord. No. 3384, § 1, 3-12-19)

(a) The affordable housing fund and all accounts within the affordable housing fund shall be administered by the director of planning and building (planning director), who shall have the authority to govern the fund consistent with this title, the appropriate ordinances and applicable county policies. The director shall prescribe procedures for said purpose, subject to approval by the county board of supervisors. The county has the option to select and contract with an outside entity/nonprofit agency to administer a portion or all of the affordable housing fund. The responsibilities, tasks, and performance standards to be assumed by the entity shall be described in an executed agreement between the entity and the county.

(Ord. No. 3171, § 1, 12-9-08)