FULL AGENDA PACKET 2021-07-06 - Laserfiche WebLink

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Exhibit 3 - Without Redline Draft (2) The fund shall be administered by the executive director, or his or her designee, who may develop procedures in the city's affordable housing funds policies and procedures to implement the purposes of the inclusionary housing fund consistent with the requirements of this article and any adopted budget of the city. (3) Monies deposited in accordance with this section shall be used in accordance with the affordable housing funds policies and procedures, housing element, consolidated plan, or subsequent plan adopted by the city council to construct, rehabilitate, or subsidize affordable housing or to recapture affordable housing at risk of market conversion, or to assist other government entities, private organizations, or individuals to do So. Perrnissible uses include, but are not limited to, assistance to housing development corporations, equity participation loans, grants, pre -home ownership co -investment, pre -development loan funds, participation leases, or other public - private partnership arrangements. The inclUsionary housing fund may be used for the benefit of both rental and owner -occupied housing. (4) A developer receiving funding from the inclusionary housing fund shall implement a local preference in their resident selection criteria and marketing policies meeting guidelines established by the executive director. (5) A developer opting for the in lieu payment option or receiving funding from the inclusionary housing fund, as well as its contractors and subcontractors at every tier performing work for the new housing units is encouraged and Should provide art enforceable CornmiLmenL that a Skilled and trained workforce will be used to complete a contract or project in accordance with Public Contract Code §§ 2601-2602. ( Ord. No. NS-2881. & 2. (4-1-15 ; Ord. No. NS 2994 , § 3, 9-1-20) Sec. 41-1910. - Administrative. (a) In -lieu fee calculation. The amount per square foot of the inclusionary housing in -lieu fee shall be subject to city council review and consideration front time to time. (b) Prior projects. The applicant(s) of any project for which a site plan review application was submitted and such application was deemed complete prior to August 4, 2015, may either construct the inclusionary units pursuant to the prior housing opportunity ordinance (Ordinance No. NS-2825) or pay ail in lieu fee calculated by the formula under the prior housing opportunity ordinance (Ordinance No. NS-282b) or request to revise its inclusionary housing plan and/or inclusionary housing agreement and pay an in -lieu fee of nine dollars and Ihiriy-five cents ($9.35) per square fool of habitable space for the entire project's inclusionary housing obligation. (c) Administration fees. The council may by resolution establish reasonable fees and deposits for the administration of [his article including an annual monitoring fee and an inclusionary housing plan submittal fee. (d) Monitoring/audits. At the time of initial occupancy, and annually thereafter, the city will monitor the project to ensure that the income verifications are correct and in compliance with the inclusionary housing administrative procedures. For ownership units, the city shall monitor to verify that owner - occupancy requirements are maintained. Developer/property owners are required to cooperate with the city in promptly providing all information requested by the city in monitoring compliance with program requirements. The city will conduct periodic random quality control audits of inclusionary units to assure compliance with rules and requirements. Such audits may include verification of continued occupancy in inclusionary units by eligible tenants, compliance with the inclusionary housing plan and agreement, and physical inspections of the residential project. (e) Administrative procedures. The city manager is hereby authorized and directed to promulgate administrative procedures for the implementation of this article. City Council 28 — 72 7/6/2021