Part 3 — CONTINUING AFFORDABILITY

B9931 - CONTINUING AFFORDABILITY.

(a)

Execution and recording of documents. The Director of Economic Development or designee may require execution and recording of documents necessary to ensure enforcement of this Chapter, including, but not limited to, promissory notes, deeds of trust, resale restrictions, rights of first refusal, options to purchase, and/or other documents, which shall be recorded against the residential project, all voluntary workforce housing incentive program units, and any site subject to the provisions of this Chapter. Affordability documents for for-sale owner-occupied voluntary workforce housing incentive program units may also include subordinate shared appreciation documents permitting the City to capture at resale the difference between the market rate value of the voluntary workforce housing incentive program unit and the affordable housing cost, plus a share of appreciation realized from an unrestricted sale in such amounts as deemed necessary by the City to replace the voluntary workforce housing incentive program unit.

(b)

Affordability periods. All voluntary workforce housing incentive program units shall remain affordable to the targeted income groups for no less than the time periods set forth in California Health and Safety Code Sections 33413(c)(1) and (2), as may be amended.

(c)

Unless otherwise required by law, all promissory note repayments, shared appreciation payments, or other payments collected under this Section shall be deposited in the voluntary workforce housing incentive program fund.

(d)

Any household that occupies a voluntary workforce housing incentive program unit must occupy that unit as its principal residence, unless otherwise approved in writing by the Director of Economic Development or his or her designee for rental to a third party for a limited period of time due to household hardship, as specified in the voluntary workforce housing incentive program guidelines.

(e)

No household may begin occupancy of a voluntary workforce housing incentive program unit until the household has been determined to be eligible to occupy that unit. Rental voluntary workforce housing incentive program units shall continue to be rented to income eligible households at an affordable housing cost for the entire term of the voluntary workforce housing incentive program restriction. The voluntary workforce housing incentive program guidelines shall establish standards for determining household income, maximum occupancy, affordable housing cost, provisions for continued monitoring of tenant eligibility, and other eligibility criteria. (Ord. No. 1491, Sec. II, 9-4-18)

B9932 - VOLUNTARY WORKFORCE HOUSING INCENTIVE PROGRAM PLAN AND VOLUNTARY WORKFORCE HOUSING INCENTIVE PROGRAM AGREEMENT.

(a)

Voluntary Workforce Housing Incentive Program Plan. The developer shall submit a voluntary workforce housing incentive program plan in a form specified by the Director of Community Development or designee and consistent with this Chapter, detailing how the provisions of this Chapter will be implemented for the proposed residential project. The voluntary workforce housing incentive program plan and its supportive documents, plans, and details shall be submitted at the same time as the development approval application materials for the residential project. Upon submittal, the Director shall determine if the voluntary workforce housing incentive program plan is complete and conforms to the provisions of this Chapter and, if applicable, the voluntary workforce housing incentive program guidelines. No project approval shall be issued for a residential project subject to this Chapter until a voluntary workforce housing incentive program plan has been approved as compliant with this Chapter. Any person may appeal any decision of the Director of Community Development in accordance with Section 9294 of this Code.

(b)

Voluntary Workforce Housing Incentive Program Agreement. Where the workforce housing incentive program requirements of this Chapter will be satisfied through the provision of on-site or off-site voluntary workforce housing incentive program units, prior to the approval of any final or parcel map or issuance of any building permit for a residential project subject to this Chapter, the City and Developer shall execute and cause to be recorded a voluntary workforce housing incentive program agreement containing those provisions necessary to ensure the requirements of this Chapter are satisfied. The voluntary workforce housing incentive program agreement shall be recorded against the entire residential project property and any other property used for the purposes of providing voluntary workforce housing pursuant to this Chapter. (Ord. No. 1491, Sec. II, 9-4-18)