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(A) General requirements - The developer will be required to enter into an affordable housing agreement with the city and, if applicable, the developer must also require that all initial buyers of the affordable units offered for sale execute an equity sharing agreement with the city or its designee pursuant to and in compliance with this section. (Cal. Gov't Code, Section 65915(c)). The density bonus affordable housing agreement may be combined with the affordable housing agreement and other documents required by Divisions 7B and 7C. The agreements shall be in the form provided by the city which shall contain terms and conditions mandated by, or necessary to implement, State law and this article. The Housing Director may designate a qualified administrator or entity to administer the provisions of this section on behalf of the city. The affordable housing agreement shall be recorded in the office of the Ventura County Recorder prior to, or concurrently with, final map recordation or, where the qualified housing development does not include a map, prior to issuance of a building permit for any structure on the site. The Housing Director is hereby authorized to enter into the agreements authorized by this section on behalf of the city upon approval of the agreements by the City Attorney for legal form and sufficiency.
(B) Minimum affordable housing component.
(1) (a) Rental units - Rents for lower income affordable units that qualified the housing development for the density bonus pursuant to Section 16-410.3 shall remain affordable for at least 55 years, or a longer period if required by the construction or mortgage financing assistance program, mortgage insurance program, or rental subsidy program, as follows (Cal. Gov't Code, Section 65915(c)(1)).
(b) The affordable housing developer of a qualified housing development based upon the inclusion of affordable units for rent must enter into an affordable housing agreement with the city to maintain the continued affordability of the affordable units. The agreement shall establish specific compliance standards and specific remedies available to the city if such compliance standards are not met. The agreement shall, among other things, specify the number of lower-income affordable units by number of bedrooms; standards for qualifying household incomes or other qualifying criteria based upon the specific development; standards for maximum affordable rents; the person responsible for certifying tenant incomes; procedures by which vacancies will be filled; required annual report and monitoring fees; restrictions imposed on lower-income affordable units on sale or transfer; and methods of enforcing such restrictions.
(2) For-sale units - Owner-occupied moderate and lower income affordable units that qualified the housing development for the density bonus pursuant to Section 16-410.3 shall be available at an affordable housing cost (Cal. Gov't Code, Section 65915(c)(1)). For-sale very low, low and moderate units shall not have a term of affordability and shall be subject to an equity sharing agreement that meets the requirements of Cal. Gov't Code, Section 65915(c)(2) unless the equity sharing agreement is in conflict with the requirements of another public funding source or law (Cal. Gov't Code, Section 65915(c)(2)). If a resale restriction agreement or other affordability agreement is required for the development by another public funding source or law, the minimum term of the affordability restriction shall be 45 years or the minimum term required by the applicable public funding source or law, whichever is longer.
(a) The affordable housing developer of a for-sale development must enter into an agreement with the city ensuring that:
1. The initial buyers of the affordable units required under this division are lower or moderate income households, as required.
2. The units are offered at an affordable housing cost as defined in Section 16-410.2. (Cal. Gov't Code, Section 65915(c)(2))
(b) The initial eligible buyer of an affordable unit offered for sale shall enter into an equity sharing agreement with the city (Cal. Gov't Code, Section 65915(c)(2)). The equity share agreement shall be recorded as a lien against the purchased property, securing and stating the city's equity share in the property. The city shall enforce the equity sharing agreement unless it is in conflict with the requirements of another public funding source or law. (Cal. Gov't Code, Section 65915(c)(2)) The equity sharing agreement shall include at a minimum the following provisions:
1. Upon resale, the seller of the unit shall retain the value of improvements, the down payment, and the seller's proportionate share of appreciation. Any improvements must be constructed with a building permit. The city shall recapture any initial subsidy, as defined in division (B)(2)(b)2. below, and its proportionate share of appreciation, as defined in division (B)(2)(b)2. below, which amount shall be used within five years for any of the purposes described in Cal. Health and Safety Code, Section 33334.2(e) that promotes home ownership (Cal. Gov't Code, Section 65915(c)(2)(A));
2. For purposes of this subdivision, the city's initial subsidy shall be equal to the fair market value of the unit at the time of initial sale minus the initial sale price to the moderate income household, plus the amount of any down payment assistance or mortgage assistance. If upon resale the market value is lower than the initial market value, then the value at the time of the resale shall be used as the initial market value (Cal. Gov't Code, Section 65915(c)(2)(B));
3. The city's proportionate share of appreciation shall be equal to the ratio of the city's initial subsidy to the fair market value of the unit at the time of initial sale. (Cal. Gov't Code, Section 65915(c)(2)(C))
(C) Minimum affordable housing component and childcare facility - If an additional density bonus or incentive is granted because a childcare facility is included in the qualified housing development, the affordable housing agreement shall also include the affordable housing developer's obligations pursuant to Section 16-410.9(A)(3) for maintaining a childcare facility, if not otherwise addressed through conditions of approval.
(Ord. No. 2912, 3035)
(A) The city will grant either a density bonus or provide other incentives of equivalent financial value to a condominium conversion project that agrees to pay the reasonably necessary administrative costs incurred by the city pursuant to this section if either:
(1) Thirty-three percent of the total units of the proposed condominium project is affordable to persons and families of moderate income households; or
(2) Fifteen percent of the total units of the proposed condominium project will be affordable to persons and families of lower income households (Cal. Gov't Code, Section 65915.5(a)).
(B) Definition of density bonus for condominium conversion projects - If the requirements of Section 16-410.20(A) are met, then the condominium conversion project will be entitled to an increase in units of 25% over the number of apartments, to be provided within the existing structure or structures proposed for conversion from apartments to condominiums. (Cal. Gov't Code, Section 65915.5(b))
(C) Pre-submittal preliminary proposals for density bonus or incentive for condominium conversion projects - Prior to the submittal of a formal request for subdivision map approval or other application for necessary discretionary approvals, an applicant to convert apartments to a condominium project may submit to the director a preliminary proposal for density bonus or other incentives of equivalent financial value. The director shall, within 90 days of receipt of a written proposal, notify the applicant of the director's preliminary response and schedule a meeting with the applicant to discuss the proposal and the director's preliminary response. (Cal. Gov't Code, Section 65915.5(d))
(D) Application for density bonus or incentives for condominium conversion projects - An applicant must submit a completed application provided by the city for a density bonus or for other incentives of equivalent financial value. The application must be submitted concurrently with the application for the condominium conversion project. The application must include the following:
(1) All information and documentation necessary to establish that the requirements of Section 16-410.20(A) are met;
(2) The proposal for a density bonus or the proposal for other incentives of equivalent financial value;
(3) Site plans demonstrating the location of the units to be converted, the affordable units, the market-rate units, and the density bonus units in the condominium conversion project; and
(4) Any other information and documentation requested by the city to determine if the requirements of Section 16-410.20(A) are met.
(E) Both the application for a density bonus or other incentives of equivalent financial value and the application for the condominium conversion must be complete before the application for a density bonus or other incentives of equivalent financial value will be considered.
(F) Granting density bonus or incentive for condominium conversion projects -
(1) Approval -
(a) If the requirements of Section 16-410.20(A) are met, the decision-making body for the condominium conversion project application is authorized to grant an application for a density bonus or other incentives of equivalent financial value, subject to Section 16-410.20(F)(2).
(b) Reasonable conditions may be placed on the granting of a density bonus or other incentives of equivalent financial value that are found appropriate, including, but not limited to, entering into an affordable housing agreement pursuant to Section 16-410.19 which ensures continued affordability of units to subsequent purchasers who are persons and families of moderate income households or low income households. (Cal. Gov't Code, Section 65915.5(a))
(2) Ineligibility - An applicant shall be ineligible for a density bonus or other incentives of equivalent financial value if the apartments proposed for conversion constitute a qualified housing development for which a density bonus as defined in Section 16-410.2 or other incentives were provided. (Cal. Gov't Code, Section 65915.5(f))
(3) Decision on condominium conversion project - Nothing in this section shall be construed to require the city to approve a proposal to convert apartments to condominiums. (Cal. Gov't Code, Section 65915.5(e))
(Ord. No. 2912, 3035)
(A) Occupancy - Prior to occupancy of an affordable unit, the household's eligibility for occupancy of the affordable unit must be demonstrated to the city. This provision applies throughout the restricted time periods pursuant to Section 16-410.19 and applies to any change in ownership or tenancy, including subletting, of the affordable unit.
(B) Ongoing compliance - Upon request, the affordable housing developer must show that the affordable units are continually in compliance with this Division 7A and the terms of the affordable housing agreement. Upon 30-day notice, the city may perform an audit to determine compliance with this Division 7A and the terms of any agreement or restriction.
(C) Enforcement - The city has the authority to enforce the provisions of this Division 7A, the terms of affordable housing agreements and equity sharing agreements, deed restrictions, covenants, resale restrictions, promissory notes, deed of trust, conditions of approval, permit conditions, and any other requirements placed on the affordable units or the approval of the qualified housing development. In addition to the enforcement powers granted in this Division 7A, the city may, at its discretion, take any other enforcement action permitted by law, including those authorized by city ordinances. Such enforcement actions may include, but are not limited to, a civil action for specific performance of the restrictions and agreement(s), damages for breach of contract, restitution, and injunctive relief. The remedies provided for herein shall be cumulative and not exclusive and shall not preclude the city from seeking any other remedy or relief to which it otherwise would be entitled under law or equity.
(Ord. No. 2912, 3035)
DIVISION 7B. (RESERVED)
DIVISION 7C. AFFORDABLE HOUSING -AHP AND -AHD ADDITIVE ZONES
The affordable housing additive zones are zoning designations to provide opportunities for the development of affordable residential housing to help the city reach its regional housing needs allocation (RHNA) to implement the housing element's "affordable housing permitted" and "affordable housing discretionary" site-specific designations. The affordable housing additive zones are separate, and in addition to, the "State" density bonus authorized by Division 7A (commencing with section 16-410A).
(Ord. No. 2999)
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