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See Section 401 of this Article.
“Owned Unit” shall mean a dwelling unit that is a condominium, stock cooperative, community apartment or detached single family home. The owner or owners of an owned unit must occupy the unit as their primary residence.
“Rental Housing Project” shall mean a housing project consisting solely of Rental Units, as defined in Section 401, which meets the following requirements:
(1) The units shall be rental housing for not less than 30 years from the issuance of the certificate of occupancy pursuant to an agreement between the developer and the City. This agreement shall be in accordance with applicable State law governing rental housing. All such agreements entered into with the City must be reviewed and approved by the Planning Director and the City Attorney’s Office, and may be executed by the Planning Director;
(2) The agreement shall be recorded against the property prior to issuance of the certificate of occupancy.
(Added as Sec. 315.1 by Ord. 37-02, File No. 001262, App. 4/5/2002; amended by Ord. 219-06, File No. 051685, App. 8/10/2006; Ord. 101-07, File No. 060529, App. 5/4/2007; Ord. 198-07, File No. 070444, App. 8/10/2007; Ord. 298-08, File No. 081153, App. 12/19/2008; redesignated and amended by Ord. 108-10, File No. 091275, App. 5/25/2010; amended by Ord. 312-10, File No. 100046, App. 12/23/2010; Ord. 76-16 , File No. 160255, App. 5/13/2016, Eff. 6/12/2016; Ord. 7-17, File No. 161157, App. 1/20/2017, Eff. 2/19/2017; Ord. 158-17, File No. 161351, App. 7/27/2017, Eff. 8/26/2017)
Existing definitions deleted; new definitions added; Ord. 158-17, Eff. 8/26/2017.