(a) For the purposes of this chapter, the following definitions are adopted:
(1) "Community housing" and "community housing project" mean and include the following:
(A) "Community apartment," which means a project in which an undivided interest in the land is coupled with the right of exclusive occupancy of any apartment thereon;
(B) "Condominium," which means an estate in real property consisting of an undivided interest in common in a portion of a parcel of real property together with a separate interest in space in a residential building on such real property;
(C) "Planned development," which means a real estate development having either or both of the following features:
(i) Any contiguous or noncontiguous lots, parcels or areas owned in common by the owners of the separately owned lots, parcels or areas consisting of areas or facilities the beneficial use and enjoyment of which is reserved to some or all of the owners of separately owned lots, parcels or areas.
(ii) Any power exists to enforce any obligation in connection with membership in the owners association, or any obligation pertaining to the beneficial use and enjoyment of any portion of, or any interest in, either the separately or commonly owned lots, parcels or areas by means of a levy or assessment which may become a lien upon the separately owned lots, parcels or areas of defaulting owners or members, which said lien may be foreclosed in any manner provided by law for the foreclosure of mortgages or deeds of trust, with or without a power of sale;
(D) "Stock cooperative," which means a corporation which is formed or availed of primarily for the purpose of holding title, either in fee simple or for a term of years, to improved real property, if all or substantially all of the shareholders of such corporation receive a right of exclusive occupancy in a portion of the real property, title to which is held by the corporation, which right of occupancy is transferable only concurrently with the transfer of the share or shares of stock or membership certificate in the corporation held by the person having such right of occupancy. The term "stock cooperative" does not include a limited-equity housing cooperative as defined in California Business and Professions Code Section 11003.4;
(E) Such other forms of ownership in which a parcel or parcels of real property, including all structures thereon, are wholly or partially rented or leased for residential purposes and are proposed to be divided, as land or air space, into three or more parcels, units or rights of exclusive occupancy.
(2) "Conversion" means a change, including a proposed change, in the type of ownership of a parcel or parcels of land, together with the existing structures, from a rental housing complex to a community housing project, regardless of whether substantial improvements have been made to such structures.
(3) "DRE report" means the final subdivision public report issued by the California Department of Real Estate pursuant to Section 11018.2 of the California Business and Professions Code.
(4) "Rental housing complex" means a structure or structures containing at least three rental units on the same parcel or adjoining parcels of property.
(5) "Rental unit" means an element of a rental housing complex designed to be rented to one family independently.
(6) "Tenant" means a person who enters into a written or oral lease or rental agreement with the owner, or owner's agent, of a rental housing complex. "Tenant" does not include a subtenant or sublessee.
(7) "Unit" means the element of a community housing project which is to be exclusively owned or occupied individually, and not in common with the owners of other elements of the project.
(8) "Vacancy deficiency" means the number of vacant rental units needed to raise the vacancy rate to three percent.
(9) "Vacancy rate" means the number of rental units being offered for rent or lease in the city of Palo Alto, shown as a percentage of the total number of rental units both being offered and actually under a rental or lease agreement
(10) "Vacancy surplus" means the number of rental units being offered for rent or lease in excess of the three-percent vacancy rate.
(Ord. 3295 § 1 (part), 1981: Ord. 3157 § 1 (part), 1979)