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.010 General. An application request for a Density Bonus, Incentives and/or Reduced Parking Ratios processed in conjunction with a conditional use permit for a condominium conversion shall comply with California Government Code Section 65915.5:
.0101 Density Bonus. Up to twenty-five percent (25%) over the number of apartments otherwise permitted by Title 18 (Zoning), to be provided within the existing structure or structures proposed for conversion.
.0102 Other Incentives of Equivalent Financial Value. For purposes of this section, "other Incentives of equivalent financial value" shall not be construed to require the City to provide cash transfer payments or other monetary compensation but may include the reduction or waiver of requirements which the City might otherwise apply as conditions of conversion approval.
.020 Condominium Conversion Requirements. An application for a Density Bonus pursuant to this section shall meet the following requirements:
.0201 Affordable Unit Options. Affordable Units shall be provided in accordance with one of the following two options:
.01 Low or Moderate Income. At least thirty-three percent (33%) of the total units of the proposed condominium project, including any units that are granted by a Density Bonus, shall be Affordable Units to Low or Moderate Income Households, or
.02 Lower Income. At least fifteen percent (15%) of the total units of the proposed condominium project, including any units that are granted by a Density Bonus, shall be Affordable Units to Lower Income Households.
.0202 Pre-File Application. An applicant for approval to convert apartments to a condominium project shall submit to the City a pre-file application pursuant to Chapter 18.60 (Procedures) prior to the submittal of any formal requests for subdivision map approvals.
.0203 Conditional Use Permit. An applicant for approval to convert apartments to a condominium project shall submit a request for a conditional use permit pursuant to the requirements of Section 18.38.100 (Condominium Conversions) and a Housing Incentives Application pursuant to the requirements of this chapter. Nothing in this section shall be construed to require the City to approve a proposal to convert apartments to a condominium project.
.0204 Ineligible Condominium Conversions. An applicant shall be ineligible for a Density Bonus or other Incentives under this section if the apartments proposed for conversion constitute a Housing Development for which a Density Bonus or other Incentives were already provided under this chapter.
.030 Conditions of Approval. The City may place such reasonable conditions on the granting of the Density Bonus or other Incentives pursuant to this section, as it finds appropriate, including, but not limited to, conditions which assure continued affordability of units to subsequent purchasers of Lower, Low and Moderate Income Households. (Ord. 6041 § 1 (part); November 13, 2006: Ord. 6101 § 52 (part); April 22, 2008: Ord. 6489 § 1 (part); July 14, 2020.)