ARTICLE VII: MONITORING AND COMPLIANCE

§ 9.37 COMPLIANCE OF AFFORDABLE HOUSING AGREEMENT AND AFFORDABILITY CONTROLS.

   (a)   The Community Development Department may promulgate rules, policies, and guidelines as necessary to implement this chapter and such rules, policies, and guidelines must be approved by the city council. On an annual basis, the Community Development Department will publish or otherwise make available the U.S. Department of Housing and Urban Development household income limits and rental limits applicable to affordable units within the city and determine an inflation factor to establish a resale price of an opportunity housing unit.

   (b)   The affordable housing development agreement must compel the applicant or applicant’s agent responsible for managing opportunity housing units in a rental development to submit an annual report to the Community Development Department by February 1 for the previous calendar year that includes the following information for each development site:

      (1)   A list of all opportunity housing units;

      (2)   Vacancy information;

      (3)   The monthly rent for each opportunity housing unit;

      (4)   Monthly income for tenants of each opportunity housing unit;

      (5)   Information sufficient to determine whether tenants of rented units qualify as extremely low, very low, low or moderate-income households; and

      (6)   Any other information as required by the city, while ensuring tenant privacy rights.

   (c)   For all sales of for-sale opportunity housing units, the parties to the conveyance must execute and record such documentation as required by the affordable housing development agreement. Such documentation must include the applicable provisions of this chapter and provide, at a minimum, each of the following:

      (1)   The opportunity housing unit must only be sold to and occupied by eligible households for the first 20 years from the date of the initial certificate of occupancy; and

      (2)   The opportunity housing unit must be conveyed subject to restrictions that maintain the affordability of such opportunity housing units for eligible households.

   (d)   In the case of rented opportunity housing units, the owner of the housing development must execute and record such documentation as required by the affordable housing development agreement. Such documentation must include the applicable provisions of this chapter and provide, at a minimum, each of the following:

      (1)   The opportunity housing units must be leased to and occupied by eligible households;

      (2)   The opportunity housing units must be leased at rent levels affordable to eligible households for a period of 20 years from the date of the initial certificate of occupancy; and

      (3)   Subleasing of opportunity housing units is not permitted without the express written consent of the Community Development Department.

(Ord. 2019-16, passed 2-25-2019)

ARTICLE VIII: AFFORDABLE HOUSING TRUST FUND

§ 9.38 ESTABLISHMENT OF TRUST FUND.

   The city will establish an Affordable Housing Trust Fund for the purpose of collecting funds related to the city’s affordable housing programs pursuant to this chapter. Such funds will include but not be limited to payment of fees in lieu of opportunity housing units and shared appreciation dollars collected at the closing of sales of designated properties. The funds in the Affordable Housing Trust Fund and all earnings from investment of said funds will be expended exclusively to provide rental housing affordable to households at or below 60% of AMI and home ownership opportunities affordable to households at or below 115% AMI.

(Ord. 2019-16, passed 2-25-2019; Ord. 2024-5, passed 3-18-2024)

§ 9.39 APPLICABLE HOUSING TRUST FUND ELIGIBLE ACTIVITIES.

   (a)   The funds collected for deposit in the Affordable Housing Trust Fund may be utilized for the following affordable housing activities:

      (1)   Acquisition and construction of affordable housing units;

      (2)   Gap financing for affordable units created at the extremely low, very low, and low income levels;

      (3)   Enhancement of county, state, and federal affordable housing programs;

      (4)   Purchase or rehabilitation, or both, and long-term preservation of NOAH units to be affordable to households at or below 60% of AMI;

      (5)   Home rehabilitation of existing single family owner-occupied units to retain affordability;

      (6)   Low cost financing or grants in support of accessory dwelling unit creation affordable to households at or below 60% of AMI;

      (7)   Predevelopment services in support of affordable housing creation;

      (8)   Development fee reimbursement and deferral of fees in support of affordable housing creation;

      (9)   Land acquisition and land banking for affordable housing creation;

      (10)   Housing and economic development services in support of housing creation for low income families of two or more, non-disabled individuals, veterans, and homeless population;

      (11)   Support for paying the difference between affordable rents and market rate rents to preserve affordable housing due to loss of subsidy of expiring tax credit developments or sale of NOAH property;

      (12)   Infrastructure improvements;

      (13)   Relocation assistance; and

      (14)   Other activities to support affordable housing as determined by the City Council.

   (b)   The City Council from time-to-time may authorize by resolution additional activities that may be funded through the Affordable Housing Trust Fund.

(Ord. 2019-16, passed 2-25-2019; Ord. 2021-1, passed 3-8-2021; Ord. 2024-5, passed 3-18-2024)