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(a) Use of Fees. All monies contributed pursuant to the Jobs Housing Linkage Fee Program in Section 413.1et seq. shall be deposited in the Citywide Affordable Housing Fund (“Fund”), established in Administrative Code Section 10.100-49. The receipts in the Fund collected under Section 413.1et seq. shall be used solely to increase the supply of housing affordable to qualifying households subject to the conditions of this Section 413.9. The fees collected under this Section may not be used, by way of loan or otherwise, to pay any administrative, general overhead, or similar expense of any entity. MOHCD shall develop procedures such that, for all projects funded by the Citywide Affordable Housing Fund, MOHCD requires the project sponsor or its successor in interest to give preference in occupying units as provided for in Administrative Code Chapter 47.
(1) Preservation and Acquisition Funds.
(A) Designation of Funds. MOHCD shall designate and separately account for 10% of all fees that it receives under Section 413.1et seq. that are deposited into the Fund to support the acquisition and rehabilitation of rent restricted affordable rental housing.
(B) Use of Preservation and Acquisition Funds. The funds shall be used exclusively to acquire and preserve existing housing with the goal of making such housing permanently affordable, including but not limited to acquisition of housing through the City’s Small Sites Program. Units supported by monies from the Fund shall be designated as housing affordable to qualified households for the life of the project. Properties supported by the Preservation and Acquisition Funds must be:
(i) rental properties that will be maintained as rental properties;
(ii) vacant properties that were formerly rental properties as long as those properties have been vacant for a minimum of two years prior to the effective date of the ordinance in Board File No. 190548, amending this Section 413.9;
(iii) properties that have been the subject of foreclosure; or
(iv) a Limited Equity Housing Cooperative as defined in Subdivision Code Sections 1399.1 et seq. or a property owned or leased by a non-profit entity modeled as a Community Land Trust.
(C) Annual Report. At the end of each fiscal year, MOHCD shall issue a report to the Board of Supervisors regarding the total amount of Preservation and Acquisition Funds received, and how those funds were used.
(b) Accounting of Funds in Central SoMa Special Use District. Pursuant to Section 249.78(e)(1), all monies contributed pursuant to the Jobs-Housing Linkage Program and collected within the Central SoMa Special Use District shall be paid into the Citywide Affordable Housing Fund, but the funds shall be separately accounted for. Consistent with the allocations in subsection (a), such funds shall be expended within the area bounded by Market Street, the Embarcadero, King Street, Division Street, and South Van Ness Avenue.
(Added as Sec. 413.10 by Ord. 108-10, File No. 091275, App. 5/25/2010; amended by Ord. 277-13, File No. 130968, App. 12/18/2013, Eff. 1/17/2014; Ord. 143-15, File No. 150568, App. 8/6/2015, Eff. 9/5/2015; Ord. 204-15, File No. 150622, App. 12/3/2015, Eff. 1/2/2016; Ord. 296-18, File No. 180184, App. 12/12/2018, Eff. 1/12/2019; redesignated and amended by Ord. 251-19, File No. 190548, App. 11/15/2019, Eff. 12/16/2019)
Section amended; Ord. 277-13, Eff. 1/17/2014. Section amended; Ord. 143-15, Eff. 9/5/2015. Section amended; Ord. 204-15, Eff. 1/2/2016. Second undesignated paragraph added; Ord. 296-18, Eff. 1/12/2019. Section redesignated; undesignated paragraphs amended and designated as divisions (a) and (b); new divisions (a)(1)-(a)(2) added; Ord. 251-19, Eff. 12/16/2019.
1. So in Ord. 251-19.