HomeMy WebLinkAbout8.2 Inclusionary Zoning Ordinance PA08-041AGENDA STATEMENT
PLANNING COMMISION MEETING DATE: October 28, 2008
SUBJECT: PUBLIC HEARING: PA 08-041 Changes to the City of Dublin
Inclusionary Zoning Ordinance (Legislative) - Inclusionary
Zoning Ordinance (Chapter 8.68) of the Dublin Municipal Code
modifications to establish fix(;d sales prices for owner-occupied
Inclusionary units; eliminating the requirement to construct owner-
occupied very-low-income units; and, altering the for-sale
Inclusionary unit income ratios.
Report Prepared by John Lucero, Housing Specialist
ATTACHMENTS: 1) Resolution recommending the City Council approve
amendments to the C: ty of Dublin Inclusionary Zoning
Ordinance with Draft City Council Ordinance attached as
Exhibit A.
2) Chapter 8.68 of the Inclusionary Zoning Ordinance.
3) Sample of the fixed sale3 price of a Unit.
4) Modified Chapter 8.68 of the Inclusionary Zoning Ordinance
with strikethrough and underline text.
5) Housing Committee Meeting Draft Minutes from October 9,
2008.
RECOMMENDATION: 1) Receive Staff presentation;
2) Open the public hearing
3) Take testimony from the public;
4) Close the public hearing and deliberate; and
5) Adopt a Resolution (Attachment 1) recommending the
revisions to the City of Dublin Inclusionary Zoning
Ordinance to the City Council.
PROJECT DESCRIPTION:
Background
On July 9, 1996, the City Council adopted the first version of the Inclusionary Zoning Ordinance ( Ord.
14-96). The purpose of the Ordinance was to further the City's goal of making available an adequate
supply of housing for persons of all economic segments of the community, and contributing to the
attainment of this goal by increasing; the production of residential units affordable to households of very
low-, low-, and moderate-incomes.. There was one project approved under this early version of the
Ordinance which was Toll Brothers. The Terraces. Over the years, there have been modifications to the
COPIES TO: Housing Committee
Interested Developers
Page 1 of 5
ITEM NO. •
KAStaff Reports- PC and (`C\2008\PC\IZO10-28fina1SR.DOC
Ordinance which include changes to the amount that developers may pay as in-lieu fees; the required
percentage of affordable units a developer must build; the length of time units must remain affordable;
and the way the sales price and rent are calculated.
On May 21, 2002, the City Council substantially amended the In-,lusionary Zoning Ordinance which
included modifications to Section 8.68.020A, which established criteria on how rents and sales prices
were calculated (Attachment 2). Under Section 8.68.020A, the sales prices for owner-occupied
Inclusionary Units and rental Inclusionary Units are handled distin(Aly. With regard to owner-occupied
units, the Regulations provide that the prices for moderate- and low-income units are calculated on the
individual household's actual income. The way that each individual household price is calculated is that
an Inclusionary Unit is to be set at a price that would allow an applicant, in the pertinent category, to pay
no more than 35% of their income toward housing expenses (Section 8.68.020.A.2.). The result of the
current calculation process is that every Inclusionary Unit sold has a different sales price, with the
exception of the Terraces, which were approved under the first Zoning Ordinance and have established
sales prices. Because the prices arc based on individual household income, it was determined that when
pricing a very-low-income unit, the maximum income of the low-income category adjusted for household
size is used.
By contrast, rents for Inclusionary Units are based on the maximum income within the very low-, low-,
and moderate-income levels published by the State. (Section 8.68.020.A.1) The Regulations state that
annual rent for an Inclusionary Unit may not exceed 30% of the m iximum income level for very low-,
low-, and moderate-income households, adjusted for household size.
Proposed Updates
Proposal to Calculate Sales Prices (f Owner-Occupied Inclusionary Units Based on Fixed Income Levels
and Household Sizes.
As mentioned above, the procedure used to calculate the maximum sales price for each owner-occupied
Inclusionary Unit is detennined by assuming that the original homebuyer will pay no more than 35% of
their household income toward their total housing expense, including principal, interest, property taxes,
insurance, and homeowner's association dues. In addition, in the calculation it is assumed that the
prospective buyer will make a 5% down payment. When the house 1, resold by the original purchaser, the
sales price is not based on the new purchaser's income level. Rasher, the sales price is based on the
original purchase price plus a percentage increase, if any, set by the `,sate of California Income Limits for
that particular year. New purchasers. are qualified based on their income, adjusted for household size. As
long as their income is below the maximum for the income category, they could be qualified to purchase
the home.
Staff has concluded that the guidelines and procedures for calculating the maximum sales price of an
owner-occupied Inclusionary Unit should be updated in order to create pricing that will facilitate
implementation and monitoring of the Inclusionary Housing Program.
Staff proposes to establish set sales orices based on fixed income and household size assumptions within
each of the two income-levels (i.e. low and moderate). Staff and the development community have found
that establishing an individual sales price for each owner-occupied Inclusionary Unit is time consuming
and costly for both the City and the Developer. It also makes it difficult for Developers to market units,
since the price of the unit depends on the purchaser's household size and income level. Using a fixed-
price approach based upon income categories would assist the Developer in creating financial statements
that reflect set sales prices instead of an average sales price for each income category and save time and
resources for the City.
2 of 5
In moving to this fixed-price approach, Staff proposes to follow the provisions of the Health and Safety
Code that apply to California redevelopment agencies. Under this proposed approach, the Units would be
priced based on a designated income point that would be affordable; to a greater range of households in
each applicable income category. Staff proposes the following income points:
• For Low-Income Households (household income of between 50% and 80% of Area Median
Income), the sales price would be set at a level so that total monthly housing payment would not
exceed thirty-five percent (35%) of one-twelfth of seventy percent (70%) of the Area Median
Income for Alameda County.
• For Moderate-Income Households (household income of up to 120% of Area Median Income), the
sales price; would be set at a level so that total monthly housing payment would not exceed thirty-
five percent (35%) of one-twelfth of one hundred and ten jercent (110%) of the Area Median
Income.
The Area Median Income (AMI) is the midpoint in the income dist:'ibution within a specific geographic
area. By definition, 50% of households earn less than the median income, and 50% earn more. HUD
calculates AMI levels for different communities annually, with adjustments for family size. AMI is used
to determine the eligibility of applicants for both federally and locally funded housing programs.
The fixed sales price approach would be based upon the number of bedrooms in the home instead of the
number of persons in the particular household. For example, if a Developer is selling a two-bedroom
unit, the sales price would be calculated under the "number of bedrooms, plus one" rule for the assumed
household size. In each case the sales price would be set based upon the following assumed household
sizes for the following sizes of residential units:
No. of Bedrooms Assumed HoL sehold Size
1 2
2 3
3 4
4 5
Thus, a two-bedroom, moderate-income For-Sale Inclusionary Un t would have a set price calculated
using 110% of the Area Median Income for a household of three. The fixed sales price of the Unit would
be $327,307. Please see Attachment 3 for the calculation of the Unit price.
Proposal to Eliminate Owner Occupied Very-Low Income Units
The increase in housing ownership in the United States during the lase 1990s and early 2000s was largely
driven by mortgage lenders relaxing credit standards. Instead of rati )ning credit based on a homebuyer's
ability to meet minimum underwriting standards, lenders began to price for greater risk. In effect, this
shifted access to credit from the ability to meet uniform standards tc the willingness of borrowers to pay
higher interest rates in return for more liberal standards.
In the past year, the mortgage industry has turned from relaxed cr,;dit standards to stringent minimum
credit standards. Federal Housing .Authority (FHA) insured loans have replaced many of the mortgage
products for first time homebuyers. FHA loans and other mortgage loan programs now require a down
payment of at least three to five percent.
In addition, a majority of mortgage lenders have returned to using a maximum household debt to income
(DI) ratio of between 35%-40% in qualifying households for mortgage loans. DI ratios are determined by
3 of 5
dividing the household's monthly gross income by the household's total monthly liabilities, including the
proposed total monthly housing payment plus all other debt.
Very-low-income households often struggle to remain current or mortgage payments and have less
money to spend for home maintenance, monthly incidentals, and cast of living expenses. Studies show
that more than half of homeowners with incomes under $20,000 did not spend any money on home
improvements in the prior 2-year period. Among those with incom,;s between $20,000 and $40,000, the
median amount spent expressed as a share of $1,000 of house value was only 1.0%, but for those with
incomes of $40,000 to $60,000 it was 3.2% and over 5% for chose earning between $80,000 and
$120,000.
Because of the current market trends, developers are having difficulty finding very-low-income
households that are able to qualify for a loan and who meet the requirements of the Inclusionary Zoning
Ordinance to purchase a below market rate home. Very-low-income households typically do not have the
required down payment and/or closing costs to purchase a home. The City has seen a few applications
from very-low-income applicants, but most have been disqualified because of the inability to meet
minimum lender requirements. If households are able to qualify for a loan, it has been typical for
households to exhaust all of their financial resources to get into the home, leaving little or no reserves for
emergencies or day-to-day expenses that are required to maintain a mortgage and upkeep a home.
Proposal to Alter For-Sale Inclusionary Unit Income Ratios
After much research on how other jurisdictions handle the requirement to provide housing for very-low-
income households, Staff is recommending that the requirement to build owner-occupied for-sale very-
low-income units be eliminated, and the ratio for providing Inclusionary owner-occupied units be updated
to require the Developer to provide 60% moderate-income units and,10% low-income units.
Staff proposes the ratio for owner-occupied units:
Existing
50% to moderate-income households
20% to low-income households
30% to very-low-income households
Proposed:
60% to moderate-irLcome households
40% for low-income households
0% for very-low ini;ome households
The ratio to provide very-low-income units for rental properties would remain the same:
50% to moderate-income households
20% to low-income households
30% to very-low-income households
Layperson's Guide
Staff will also be recommending to the City Council modifications to the Layperson's Guide to the
Inclusionary Zoning Ordinance for consistency with the proposed Amendment and to allow for more
frequent updates of the Guide. One of the modifications will be the allowance for set rental prices in a
similar manner as the ownership units as noted above.
4of5
Meeting with Development Community
On October 7, 2008, Staff met with members of the development community to go over the proposed
modifications to the Inclusionary Ordinance and Layperson's Guide;. The meeting attendees expressed
support of Staff proposals.
Housing Committee
At the October 9, 2008 Housing Committee meeting, members of the Committee received an
informational presentation from Staff regarding the proposed revisions to the Inclusionary Zoning
Ordinance and Staff's update to also set rental prices for rental occupied Inclusionary Units. The Housing
Committee unanimously recommended the Planning Commission review the proposed revisions to
Dublin's Inclusionary Zoning Ordinance (Attachment 5).
ENVIRONMENTAL REVIEW:
The proposed update to the Inclusionary Zoning Ordinance is exempt from CEQA based on the following
findings: This ordinance is not a "project" within the meaning of Section 15378 of the State CEQA
Guidelines, because it has no potential for resulting in physical change in the environment, directly or
ultimately. The proposed Ordinance does not, in itself, allow the construction of any building or
structure. This ordinance, therefore, has no potential for resulting in physical change in the environment,
directly or ultimately.
CONCLUSION:
After several years of administering the Inclusionary Zoning Ordinar ce it has become necessary to update
the Ordinance to provide for easier to implementation by both thc, development community and City
Staff. In addition, the update addresses difficulties in the marketing ?.nd sale of very-low income units.
RECOMMENDATION
Staff recommends the Planning Commission: 1) Receive Staff presentation; 2) Open the public hearing;
3) Take testimony from the public; 4) Close the public hearing and deliberate; and 5) Adopt a Resolution
(Attachment 1) recommending the revisions to the City of Dublin hnclusionary Zoning Ordinance to the
City Council.
5 of 5
RESOLUTION NO. 08-XX
A RESOLUTION OF THE PLANNING COMMISSION
OF THE CITY OF DUBLIN
RECOMMENDING THAT THE CITY COUNCIL ADOPT iLN ORDINANCE AMENDING
CHAPTER 8.68 OF THE DUBLIN MUNICIPAL CODE (THE INCLUSIONARY
ZONING REGULATIONS) RELATING TO ESTABLISHING FIXED SALES PRICES
FOR OWNER-OCCUPIED INCLUSIONARY UNITS; ELIMINATING THE
REQUIREMENT TO CONSTRUCT OWNER-OCCUPIED VERY-LOW INCOME
UNITS; AND, ALTERING THE FOR-SALE INCIUSIONARY UNIT INCOME
RATIOS (PA 08-041)
WHEREAS, a goal of the Housing Element is to achieve a balanced community with housing
available for households at a range of income levels; and
WHEREAS, accordingly, the City has adopted the Inclusionary Zoning Regulations ("the
Regulations"), set forth at Chapter 8.68 of the Dublin Municipal Code, which Regulations generally
require developers of residential housing in excess of 19 units in the City of Dublin to set aside 12.5% of
such units for very-low-, low-, and moderate-income households, as defined; and
WHEREAS, Staff has determined that the Regulations are in need of certain modifications and
has presented a draft Ordinance amending the Regulations to the; Planning Commission at a public
hearing for a recommendation to the City Council; and
WHEREAS, proper notice of said public hearing was given 11 all respects as required by law; and
WHEREAS, the City of Dublin Planning Commission ("Planning Commission") held a public
hearing on said application on October 28, 2008; and
WHEREAS, the Planning Commission did hear and consid,-r all said reports, recommendations
and testimony herein above set forth and used its independent judgment to evaluate the project; and
NOW, THEREFORE, BE IT RESOLVED that the City of Dublin Planning Commission does
hereby find that:
A. That the City of Dublin Planning Commission does hereby recommend that the City Council
approve an Ordinance of the City Dublin amending Chapter 8.68 of the Dublin Municipal Code
relating to Inclusionary Zoning regulations as set forth in the draft Ordinance attached as Exhibit
A.
1 of 2
KAStaff Reports- PC and CC\2008\PC\IZO Reso (2) 10-21-08.doc
ATTACHMENT 1
PASSED, APPROVED AND ADOPTED this 28th day of October, 2008 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Planning Commission Chair
ATTEST:
Planning Manager
2 of 2
KAStaff Reports- PC and CC\2008\PC\IZO Resc (2) 10-21-08.doc
ORDINANCE NO. - 08
AN ORDINANCE OF THE CITY OF DUBLIN AMENDING CHAPTER 8.68
OF THE DUBLIN MUNICIPAL CODE (THE INCLUSIONARY ZONING
REGULATIONS) RELATING TO ESTABLISHING FIXED SALES PRICES FOR
OWNER-OCCUPIED INCLUSIONARY UNITS; ELIMINATING THE REQUIREMENT
TO CONSTRUCT OWNER-OCCUPIED VERY-IOW INCOME UNITS; AND,
ALTERING THE FOR-SALE INCLUSIONARY UNIT INCOME RATIOS (PA 08-041)
The City Council of the City of Dublin does hereby ordain as follows:
Section 1. Amendment of Section 8.68.020: Subdivision A of Section 8.68.020 of the Dublin
Municipal Code is amended to read as follows:
"A. "Affordable Unit" means an ownership or rental-housing unit, including senior housing,
affordable to households with very-low, low, or moderate incomes as defined in this chapter.
Rental units are deemed affordable units if the annual rent does not exceed 30% of
maximum income level for low- and moderate-income households, adjusted for
household size and as defined below.
2. Owner-occupied units are deemed affordable units if the sales price results in annual
housing expenses that do not exceed 35% of the maximum income level for very-low-,
low-, and moderate-income households, adjusted for household size and as defined
below.
Section 2. Amendment of Section 8.68.030. Subdivision B of Section 8.68.030 of the Dublin
Municipal Code is amended to read as follows:
"B. Allocation of Units to Income Levels. Affordable units provided pursuant to this
section shall be allocated to households with veIy-low, low-, and moderate-income
levels as follows:
Rental Units Owner-Occupied Units
Very-low-income households 30% 0%
Low-income households 20% 40%
Moderate-income households 50% 60%
Where the calculation of the allocation results it fewer units that would otherwise be
required pursuant to subdivision A above, one additional unit should be allocated to
the income level with a decimal fraction closest to 0.50."
KAStaff Reports- PC and CC\2008\PC\Ord1ZOAmendfina110-28-08.DOC EXHIBIT A TO
ATTACHMENT I
Section 3. Compliance with California Environmental Quality Act ("CEQA'): The City Council
declares that this ordinance is exempt from CEQA based on the following findings: This ordinance is not a
"project" within the meaning of Section 15378 of the State CEQA Guidelines, because it has no potential for
resulting in physical change in the environment, directly or ultimately. This ordinance does not, in itself,
allow the construction of any building or structure. This ordinance, th,,refore, has no potential for resulting
in physical change in the environmen, directly or ultimately.
Section 4. Severability: In the event any section or portion of this ordinance shall be determined
invalid or unconstitutional, such section or portion shall be deemed severable and all other sections or
portions hereof shall remain in full force and effect.
Section 5: Savings Clause: All code provisions, ordinances, and parts of ordinances in conflict
with the provisions of this chapter are repealed. The provisions of this chapter, insofar as they are
substantially the same as existing code provisions relating to the same subject matter shall be construed as
restatements and continuations thereof and not as new enactments. Wi :h respect, however, to violations,
rights accrued, liabilities accrued, or appeals taken, prior to the effective date of this ordinance, under any
chapter, ordinance, or part of an ordinance shall be deemed to remain in full force for the purpose of
sustaining any proper suit, action, or other proceedings, with respect tc any such violation, right, liability or
appeal.
Section 6. Effective Date and Posting of Ordinance: This ordinance shall take effect and be in force
thirty (30) days from and after the date of its passage. The City Clerk of the City of Dublin shall cause the
Ordinance to be posted in at least three (3) public places in the City of Dublin in accordance with Section
36933 of the Government Code of the State of California.
PASSED AND ADOPTED BY the City Council of the City o f Dublin, on this _ day of
2008, by the following votes:
AYES:
NOES:
ABSENT:
ABSTAIN:
MAYOR
ATTEST:
CITY CLERK
1156328.1
KAStaff Reports- PC and CC\2008\PC\Ord1ZOAmendfina110-28-0&DOC
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
CHAPTER 8.68 INCLUSIONARY ZONING REGULATIONS
8.68.010. Purpose. The purpose of this chapter is to:
A. enhance the public welfare and assure that further housing development contributes to the attainment
of the City's housing goals by increasing the production of residential units affordable by households
of very low., low, and moderate: income.
B. assure that the limited remaining developable land in the City's planning area is utilized in a manner
consistent with the City's hous;.ng policies and needs.
8.68.020. Definitions. As used in this chapter, each of the following 1:erms shall be defined as follows:
A. "Affordable Unit" means an ownership or rental-housing unit, including senior housing, affordable to
households with very-low, low, or moderate incomes as definec. in this chapter.
Rental units are deemed affordable units if the annual rent does not exceed 30% of maximum
income level for very-low-, low-, and moderate-income households, adjusted for household
size and as defined below.
2. Owner-occupied units are deemed affordable units if the sales price results in annual housing
expenses that do not exceed 35% of income level for ve;-y-low-, low-, and moderate-income
households, adjusted for household size and as defined below. For a very low-income owner-
occupied units, the unit shall be deemed an affordable unit if the sales price results in annual
housing expenses that do not exceed 35% of the maximum in the very low-income level,
adjusted for household size and as defined below.
B. "Applicant" means any person, firm, partnership, association, joint venture, corporation, or any
entity or combination of entities that seeks city real property development permits or approvals.
C. "Dwelling unit" means a dwelling designed and intended for occupancy by one household.
D. "Very-low-, low-, and moderate-income levels" means those ir.come and eligibility levels
determined periodically by the California Department of Housing and Community Development
based on Alameda County median income levels adjusted for family size. Such levels shall be
calculated on the basis of gross, annual household income considering household size and number of
dependents, income of all wags: earners, elderly or disabled family members, and all other sources of
household income and will be -ecertified as set forth by local standards, and state and federal housing
law.
"Very-low income" means 50% or less of the median income, adjusted for actual household
size.
2. "Low income" means more than 50% to 80% of the median income, adjusted for actual
household size.
3. "Moderate income" means more than 80% to 120% of the median income, adjusted for actual
household size.
City of Dublin Zoning Ordinance 68-1 September, 1997
Revised March 2005
Attachment 2
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
E. "Resale controls and/or rent restrictions" means legal restrictions by which the affordable units shall
be restricted to ensure that the unit remains affordable to very-low-, low-, or moderate-income
households, as applicable, for a period of not less than 55 years With respect to rental units, such
rent restrictions shall be in the form of a regulatory agreement recorded against the applicable
property. With respect to owner-occupied units, such resale controls shall be in the form of resale
restrictions, deeds of trust, and/or other similar documents reco •ded against the applicable property.
F. "Residential development" includes, without limitation, detached single-family dwellings, multiple-
dwelling structures, groups of dwellings, condominium or townhouse developments, condominium
conversions, cooperative developments, mixed use developments that include housing units, and
residential land subdivisions intended to be sold to the general public.
8.68.030. General Requirements
A. 12.5% Affordability Requirement. All new residential development projects of 20 units or more
designed and intended for permanent occupancy shall construct 12.5% of the total number of
dwelling units within the development as affordable units, exce :)t as otherwise provided by this
chapter. The foregoing requirement shall be applied no more than once to an approved development
(and generally at the tentative map stage), regardless of the changes in the character or ownership of
the development, provided the total number of units does not change. In applying and calculating the
affordability requirement, any decimal fraction less than or equal to 0.50 may be disregarded, and any
decimal fraction greater than 0.50 shall be construed as one unil.
B. Allocation of Units to Income Levels. Affordable units provided pursuant to this section shall be
allocated to households with very-low, low-, and moderate-income levels as follows:
Very-low-income households 30%
Low-income households 20%
Moderate-income households 50%
Where the calculation of the allocation results in fewer units that would otherwise be required
pursuant to subdivision A abo,, e, one additional unit should be allocated to the income level with a
decimal fraction closest to 0.50.
C. Conditions of Approval: Any tentative map, conditional use permit, or site development review
approving residential development projects subject to this chapt: r shall contain conditions sufficient
to ensure compliance with the provisions of this chapter. Such conditions shall detail the number of
affordable units required, specify the schedule of construction of affordable units, set forth the
applicant's manner of compliance with this chapter, and require the execution of an agreement
imposing appropriate resale controls and/or rental restrictions on the affordable units.
D. Concurrent Construction. All affordable units in a project or phase of a project shall be constructed
concurrently with market-rate units, unless the City Manager determines in writing that extenuating
circumstances exist that make concurrent construction infeasible; or impractical.
E. Design and Distribution of Affordable Units. All affordable units shall reflect the range of
numbers of bedrooms provided in the project as a whole and shall not be distinguished by exterior
City of Dublin Zoning Ordinance 68-2 September, 1997
Revised March 2005
INCLUSI!ONARY ZONING REGULATIONS
Chapter 8.68
design, construction, or materials. Affordable units may be of smaller size than the units in the project
and may have fewer amenities than the market rate units in the project. All affordable units shall be
reasonably dispersed throughout the project.
8.68.040. Exceptions to 12.5% Affordability Requirement. Developers of projects subject to 8.68.030A
shall construct 12.5% of the total number of dwelling units within the development as affordable
units, unless subject to an exception set forth in this section All exceptions require City Council
approval, which shall be obtained at or prior to the last disc -etionary approval for the project.
A. Payment of Fees In Lieu of Creation of Affordable Units. Upon request of the applicant, the City
Council shall permit the applicant to pay a fee in lieu of constn cting up to 40% of the affordable
units that the developer would otherwise be required to constru-?t pursuant to Section 8.68.030A. The
amount of the fee shall be as set forth in a resolution of the City Council, which may be amended
from time to time to reflect inflation and changed conditions in the City and the region. In lieu fees
shall be paid at the time and in the amount set forth in the in Ilea fee resolution in effect at the time of
issuance of the building permit.
B. Off-Site Projects. An applicant may construct the affordable L nits not physically within the
development in lieu of constructing some or all of the affordable units within the development, with
the approval of the City Council, if the City Council finds:
that construction of the units off-site in lieu of constructing units on-site is consistent with the
chapter's goal of creating, preserving, maintaining, and protecting housing for very low-, low-
and moderate-income households.
2. that the units to be constructed off site are consistent wi :h Section 8.68.030E above.
3. that it would be infeasible or impractical to construct affordable units on-site.
4. that conditions of approval for the project require that tl.e off-site affordable units would be
governed by the terms of a deed restriction and, if applicable, rental restrictions similar to that
used for the on-site affordable units.
5. that the conditions of approval for the project, or other security such as a cash deposit, bond,
or letter of credit, are.adequate to require the construction of the off-site affordable units
concurrently with the completion of the construction of the residential development or within
a reasonable period (not to exceed 5 years).
C. Land Dedication. An applicant may dedicate land to the City or city-designated local non-profit
housing developer in lieu of construction of some or all of the r.-quired affordable units, if the
Council finds that:
that dedication of land in lieu of constructing units is consistent with the chapter's goal of
creating, preserving, maintaining, and protecting housing for very-low, low- and moderate-
income households.
2. that the dedicated land is useable for its intended purpose, is free of toxic substances and
contaminated soils, and is fully improved, with infrastructure, adjacent utilities, grading, and
all development-impact fees paid excluding any inclusionary zoning ordinance fees.
City of Dublin Zoning Ordinance 68-3 September, 1997
Revised March 2005
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
3. that the proposed land dedication is of sufficient size to meet the following requirements:
a. the dedication includes land sufficient to constrict the number of units that the
applicant would otherwise be required to constrict by Section 8.68.030.A, based on
the size of lots in the subdivision for which the applicant is meeting its obligation; and
b. in addition, the dedication includes such additio nal land the market value for which is
equal to or exceeds the difference between the value of a market-rate, 1200-square
foot unit and the price at which such a unit could be sold as an Affordable Unit (which
amount shall be set forth in a resolution adopted from time to time by the City
Council) times the number of units required.
D. Credit transfers. An applicant may fully or partially satisfy the requirements of Section 8.68.030A
through the use of transfer credits created pursuant to Section 8.68.060. Credit certificates shall be
presented to the Community Development Director, who shall note at the time of project approval the
credit certificate by number. Credit certificates may only be used to satisfy the requirements for
Inclusionary Units for the income category (i.e., very low, low, or moderate) and number of
bedrooms for which they are issued.
E. Waiver of Requirements. The City Council, at its discretion, may waive, wholly or partially, the
requirements of this ordinance and approve alternate methods of compliance with this Chapter if the
applicant demonstrates, and the City Council finds, that such alternate methods meet the purposes of
this Chapter.
8.68.050. General Procedures for Implementing Inclusionary Zoning Requirements
A. Agreements. Prior to the issuance of a building permit for an affordable unit, resale restrictions or
rental controls, or both, as the case may be, shall be set forth in an agreement between the City and
the developer, in a form consistent with the City Council-adopt--d form agreement, which agreement
shall be recorded against the property containing the affordable units. The agreement shall be
executed by the City Manager, and its requirements shall run with the land and bind the applicant's
successors.
B. Rental Units; Occupancy; Annual Report. Agreements involving rental units shall require the
owner of the affordable units to ensure that the units are occupi,-d by tenants whose monthly income
levels do not exceed very low-, low-,or moderate income levels, as the case may be, and shall
preclude tenants from subletting or subleasing the unit. The agreement shall also require the owner
of the affordable unit to submit an annual report to the City Manager, in a format approved by the
City. The report shall include, but not be limited to the following information: an identification of the
affordable units within the project; the monthly rents charged avid proposed to be charged; vacancy
information for the prior year; and the monthly income for tenants of each affordable unit throughout
the prior year.
C. Ownership Units; Occupancy; City's Right of First Refusal, Agreements for ownership units
shall specify that the inclusionary units must be occupied by the owner or owners and may not be
leased or rented without the written approval of the City. The r--sale restrictions shall provide that in
the event of the sale of an affordable unit, the City shall have the right to purchase any affordable
owner-occupant unit at the maximum price that could be charged to an eligible household.
City of Dublin Zoning Ordinance 68-4 September, 1997
Revised March 2005
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
D. Selection Criteria. No household shall be permitted to occupy a unit that is required under this
chapter to be affordable unless the City or its designee has approved the household's eligibility.
Eligible potential occupants oi'affordable units will be qualified on the basis of household income,
the median combined household income statistics for Alameda County published periodically by the
California Department of Housing and Community Development, all sources of household income
and assets, the relationship between household size and the size of available units, and any further
criteria required by law. The developer shall use an equitable selection method established in
conformance with the terms of this chapter. The selection criteria may not distinguish between adults
and children. Selection of qualified person should be based on priorities established using the point
system described below:
• Employed within the boundaries of the City of Dublin (3 points, one per household)
• Public Service employee working in the City of Dublin (1 additional point)
• Dublin resident (3 points, one per household)
• Seniors (1 point, one per household).
• Permanently disabled (1 point, one per household)
• Immediate family member of Dublin resident (1 point, one per household)
• Required to relocate from current Dublin residence due to demolition of dwelling or
conversion of dwelling from rental to for-sale unit (1 point, one per household)
To qualify as a "Public Service; Employee", the person shall be employed by a Public Agency.
To qualify as "Employed within the boundaries of the City of Dublin", the person shall have been
employed within the City of Dublin for at least six months.
To qualify as a "Dublin resident," the person shall have been a :-esident of the City of Dublin for at
least a one-year period prior to the eligibility determination.
8.68.060. Affordable Unit Credits.
A. Creation. Affordable unit credits may be created by the City Council. One affordable unit credit
certificate shall be issued for each affordable unit constructed ifL excess of the number of affordable
units required to be constructed for the project by Section 8.68.030A. The certificate shall designate
a specific income category (i.e., very-low, low, or moderate inc)me) and number of bedrooms for
which they are issued.
B. Ownership and use of credits. Affordable unit credit certificates are issued to and become the
possession of the project owner, who may then use them to satisfy the requirements of this chapter
for another project in the City. If a project owner proposes to stall credit certificates, the parties shall
first obtain the consent of the Community Development Directc r, who will document the transfer by
certificate number.
City of Dublin Zoning Ordinance 68-5 September, 1997
Revised March 2005
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
8.68.070. Incentives to Encourage On-Site Construction of Afford able Units. The City may, but shall
not be required to, offer incentives or financial assistance to encourage the on-site construction of
affordable units in excess of 12.5% of the total number of units in the project to the extent
resources for this purpose are available and approved for such use by the City Council or City
Manager. Such incentives may include, but shall not be limited to, the following:
A. Fee Deferral.
Development Processing Fees. The City Manager may approve deferred payment of City
processing fees applicable to the review and processing of the project. The terms and
payment schedule of the deferred fees shall be subject to the approval of the City Manager.
2. Development Impact Fees. The City Council may autliorize the deferred payment of
development impact fees applicable to the affordable ur.its. Approval of this incentive
requires demonstration by the Applicant that the deferral increases the project's feasibility.
The applicant must provide appropriate security to ensure future payment of such fees.
B. Design Modifications. The City Council may approve design :modifications to affordable units that
increase the feasibility of the construction of affordable units, including but not limited to, the
following:
Reduced lot size.
2. Reduced setback requirements.
3. Reduced open space requirements.
4. Reduced landscaping requirements.
5. Reduced interior or exterior amenities.
6. Reduction in parking requirements.
7. Height restriction waivers.
8.68.080. Inclusionary Zoning In Lieu Fee Fund. In Lieu Fees shall be deposited into a fund known as
the "Inclusionary Zoning vi Lieu Fees Fund" ("Fund").
A. Use. All monies in the Fund, together with any interest earnings on such monies less reasonable
administrative charges, shall be used or committed to use by the City for the purpose of providing
very-low, low-, and moderate-income ownership or rental hous ng in the City of Dublin.
B. Annual report. The City Manager shall prepare an annual report to the City Council identifying the
balance of monies in the Fund and the affordable units providec and any monies committed to
providing very-low-, low-, and moderate-income housing. The annual report shall also include a
review of administrative charges.
8.68.090. Violations. It shall be unlawful for any person, firm, corporation, partnership or other entity that
is subject to this ordinance pursuant to section 8.68.030A to violate any provision or to fail to
City of Dublin Zoning Ordinance 68-6 September, 1997
Revised March 2005
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
comply with any of the requirements of this chapter. A vio ation of any of the provisions or
failing to comply with any of the requirements of this Chap ter shall constitute a misdemeanor;
except that notwithstanding; any other provisions of this Cade, any such violation constituting a
misdemeanor under this chapter, may in the discretion of the enforcing authority, be charged and
prosecuted as an infraction. Any person convicted of an infraction under the provisions of this
Code shall be punishable as provided by the Government C :)de of the State of California.
8.68.100. Enforcement.
A. General. The City Manager shall enforce this chapter, and its provisions shall be binding on all
agents, successors, and assigns of an applicant. The City Manager may suspend or revoke any
building permit or approval upon finding a violation of any pro vision of this chapter. No land-use
approval, building permit, or certificate of occupancy shall be issued for any residential development
unless exempt from or in compliance with this chapter. The Ci y may institute any appropriate legal
actions or proceedings necessary to ensure compliance herewith, including, but not limited to, actions
to revoke, deny, or suspend any permit or development approval.
B. Excessive rents/legal action. If the City Manager determines that rents in excess of those allowed
by operation of this chapter have been charged to a tenant resid ng in an affordable unit, the City may
take appropriate legal action to recover, and the project owner shall be obligated to pay to the tenant,
or to the City in the event the tenant cannot be located, any excess rents charged.
8.68.110. Appeals. Decisions of the City Manager under this Chapter maybe appealed as provided in
Chapter 8.136.
City of Dublin Zoning Ordinance 68-7 September, 1997
Revised March 2005
O
-i
O
D
r
N
D
r
M
N
n
rn
D
r
r
M
v
CA)
N
w
0
O
V1
W
N
v
CA)
0
v
0
0
CD
x 3 (D
3 `D
`n :
3
r in 3
°
i
w
N
v
•w
0
v
O
Ul
w
Z G)
r CD
r
r
r
Cn 3 u
!n ai
W ai
[A vi
O
° _ -o 3
°
3 o
v m Z)
zT
o
CD
° -
C
°
3 0
w
CD
° ?,
m D cn
CD -0
(D
=3 cn
°
o
m m
x
m n
v
O
5 v
o
> -
> M
C °
(D
O (D
rn D)
:3 -?
N + m m
69 N
O
D a
FD'
a
Q
w
M
o
N N N
o 0 0
cn
?? to cn cn
CD to CO (D
00 D
W 3 m
U7 O p 0
O O
V O U)
N N N N
rn Cnn CCO
cn cn -? rn
N N ? A
CD (O O O)
0
N ?
o G) D = Z
O ?
C
° =2 v 3
LD
a u
,
N v i
° Cr c
3 ' o m )
° z
o - W
o
° -
CD
v ° U)
° 3
C
o 0 °
L °
3
?'
-
:3
cc °
-=
' 3
9 (D
CD
_a
a
CD r
r
o- -
r
r
rn
CD
W
c
CD
0
CO N
,4 T1
C
8 N O
°
.
A
w
cn ?--• o `?
o J O W N
O
O
o <D
D v
( Cl)
O
0
cn
n Z
d
CD a
M
d -% ,
a =
O? O H
C
to O
(/) CD -%
= S C
O O O s
Q Q N
Cn
3
EF
Attachment 3 -
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
CHAPTER 8.68 INCLUSIONARY ZONING REGULATIONS
8.68.010. Purpose. The purpose of this chapter is to:
A. enhance the public welfare and assure that further housing development contributes to the attainment
of the City's housing goals by increasing the production of residential units affordable by households
of very low., low, and moderate income.
B. assure that the limited remaining developable land in the City's planning area is utilized in a manner
consistent with the City's housing policies and needs.
8.68.020. Definitions. As used in this chapter, each of the following terms shall be defined as follows:
A. "Affordable Unit" means an ownership or rental-housing unit, including senior housing, affordable to
households with very-low, low, or moderate incomes as defined in this chapter.
Rental units are deemed affordable units if the annual rent does not exceed 30% of maximum
income level for very-low-, low-, and moderate-income households, adjusted for household
size and as defined below.
2. t7V?Y• e e , its t Fe deemed affordable units if thy. sales pr-ioe fesults in annual housing
, low ,
°a units, the ,,,';t shall be deemed affordable „ iit if tti e sales p „lts ; ^1
expenses housing level;
adjtfsted feF household size an as ` efinea below Owner-occupied units are deemed
affordable units if the sales price results in annual housing expenses that do not exceed 35%
of the maximum income level for very-low-, low-, and moderate-income households, adjusted
for household size and as defined below.
a 1 ? coi c ?h -- ---- . 1 ..
B. -"Applicant" means any person, firm, partnership, association, joint venture, corporation, or any
entity or combination of entities that seeks city real property development permits or approvals.
C. "Dwelling unit" means a dwelling designed and intended for occupancy by one household.
D. "Very-low-, low-, and moderate-income levels" means those income and eligibility levels
determined periodically by the California Department of Housing and Community Development
based on Alameda County median income levels adjusted for family size. Such levels shall be
calculated on the basis of gross annual household income considering household size and number of
dependents, income of all wags; earners, elderly or disabled family members, and all other sources of
household income and will be .-ecertified as set forth by local standards, and state and federal housing
law.
City of Dublin Zoning Ordinance 68-1 September, 1997
Revised October 2008Marslr-2005
Attachment 4
INCLU&ONARY ZONING REGULATIONS
Chapter 8.68
mm?m
1. "Very-low income" means 50% or less of the median income, adjusted for actual household
size.
2. "Low income" means more than 50% to 80% of the median income, adjusted for actual
household size.
3. "Moderate income" means more than 80% to 120% of the median income, adjusted for actual
household size.
E. "Resale controls and/or rent restrictions" means legal restrictions by which the affordable units shall
be restricted to ensure that the unit remains affordable to very-Low-, low-, or moderate-income
households, as applicable, fora period of not less than 55 years. With respect to rental units, such
rent restrictions shall be in the form of a regulatory agreement recorded against the applicable
property. With respect to owner-occupied units, such resale controls shall be in the form of resale
restrictions, deeds of trust, and/or other similar documents reco -ded against the applicable property.
F. "Residential development" includes, without limitation, detachl;d single-family dwellings, multiple-
dwelling structures, groups of dwellings, condominium or townhouse developments, condominium
conversions, cooperative developments, mixed use developments that include housing units, and
residential land subdivisions intended to be sold to the general public.
8.68.030. General Requirements
A. 12.5% Affordability Requirement. All new residential development projects of 20 units or more
designed and intended for permanent occupancy shall construct 12.5% of the total number of
dwelling units within the development as affordable units, except as otherwise provided by this
chapter. The foregoing requirement shall be applied no more tlLan once to an approved development
(and generally at the tentative map stage), regardless of the changes in the character or ownership of
the development, provided the total number of units does not cl.ange. In applying and calculating the
affordability requirement, any decimal fraction less than or equal to 0.50 may be disregarded, and any
decimal fraction greater than 0.50 shall be construed as one uni,:.
B.Alloention of Units to income Levels. A ff r-d ble units .ide.l p "t to this seetion shall
alloeated to h,,,,-h. LU with very lee low an moderate Me me levels as 4^11". s:
Ve-y low : emehouseheldS 3"0
Low ineeme households 24%
Moderate ineome house1 olds 5"0
Where the e zeale,,1.,tio of the alloe tion r-estilts in fewer- units th 4. tild etheFyise be -e 0l
?
above, one additional unit should be .,1lee ted to the : e level with
decimal fr-aetion elesest to 0.50-.
B. Allocation of Units to Income Levels. Affordable units provid.-d pursuant to this section shall be
allocated to households with very-low, low-, and moderate-inccme levels as follows:
City of Dublin Zoning Ordinance 68-2 September, 1997
Revised October 2008MaFGh-2005
INCLUSIONARY ZONING REGULATIONS
Chapter 8.68
Rental Units Owner-Occupied Units
Very-low-income households 30% 0%
Low-income households 20% 40%
Moderate-income households 50% 60%
Where the calculation of the allocation results in fewer units that would otherwise be required
pursuant to subdivision "A" above, one additional unit should be allocated to the income level with a
decimal fraction closest to 0.50."
EC. Conditions of Approval: Any tentative map, conditional use hermit, or site development review
approving residential development projects subject to this chapter shall contain conditions sufficient
to ensure compliance with the provisions of this chapter. Such conditions shall detail the number of
affordable units required, specify the schedule of construction of affordable units, set forth the
applicant's manner of compliance with this chapter, and require: the execution of an agreement
imposing appropriate resale controls and/or rental restrictions on the affordable units.
D-. D. Concurrent Construction. All affordable units in a project or phase of a project shall be constructed
concurrently with market-rate units, unless the City Manager determines in writing that extenuating
circumstances exist that make concurrent construction infeasible or impractical.
1E. Design and Distribution of Affordable Units. All affordable units shall reflect the range of
numbers of bedrooms provided in the project as a whole and shall not be distinguished by exterior
design, construction, or materials. Affordable units may be of s:naller size than the units in the project
and may have fewer amenities than the market rate units in the project. All affordable units shall be
reasonably dispersed throughout the project.
8.68.040. Exceptions to 12.5% Affordability Requirement. Developers of projects subject to 8.68.030A
shall construct 12.5% of the total number of dwelling units within the development as affordable
units, unless subject to an exception set forth in this section. All exceptions require City Council
approval, which shall be obtained at or prior to the last discretionary approval for the project.
A. Payment of Fees In Lieu of Creation of Affordable Units. Upon request of the applicant, the City
Council shall permit the applicant to pay a fee in lieu of constructing up to 40% of the affordable
units that the developer would otherwise be required to construct pursuant to Section 8.68.030A. The
amount of the fee shall be as set forth in a resolution of the City Council, which may be amended
from time to time to reflect inflation and changed conditions in the City and the region. In lieu fees
shall be paid at the time and in the amount set forth in the in lieli fee resolution in effect at the time of
issuance of the building permit.
B. Off-Site Projects. An applicant may construct the affordable units not physically within the
development in lieu of constructing some or all of the affordabl,- units within the development, with
the approval of the City Council, if the City Council finds:
City of Dublin Zoning Ordinance 68-3 September, 1997
Revised October 2008Marsh- 5
A regular meeting of the City of Dublin Housing Committee was held on Thursday, October 9,
2008 in the Wells Middle School Library, 6800 Penn Drive, Dublin. Mary Rose Parkman,
Housing Committee Chair callE-d the meeting to order at 6:06 p.m.
CALL TO ORDER/ROLL CALL
Present: Committee Chair Mary Rose Parkman; Committee Members Kathy Avanzino, Ronald
De Diemar, Dale Garren, and Rick Runnels; Jeri Ram, Community Development Director; John
Lucero, Housing Specialist; Gavlene Burkett, Housing Assistant; and Taryn Gavagan,
Recording Secretary.
Absent: Vice Chair Christine Kaehuaea; Committee Member i Don Biddle and Steve Murdock.
ORAL COMMUNICATION - NONE
MINUTES OF PREVIOUS MEETINGS
On a motion by Committee Member De Diemar, seconded by Committee Member Runnels, the
minutes of the September 18, 2008 meeting were unanimously approved.
WRITTEN COMMUNICATIONS - NONE
NEW BUSINESS
7.1 Changes to the Inclusionary Zoning Ordinance
Mr. John Lucero, Housing Specialist, presented the PowerPoint presentation, highlighting the
Proposed Inclusionary Zoning Ordinance Modifications.
Mr. Lucero briefly discussed the background of the Inclusionary Zoning Ordinance and stated
that Staff reviewed the current Inclusionary Zoning Ordinance and is proposing modifications
to the Ordinance. Mr. Lucero then stated that Staff is proposing to move to set sales prices for
below market rate (BMR) units for low- and moderate-income units. Mr. Lucero discussed how
set prices for the BMR units will be determined for low- and :noderate-income households, and
presented an example calculation.
Housing Committee 43 October 9, 2008
Attachment 5
DRAFT DRAFT
DRAFT
DRAFT
Committee Member Runnels asked if only the Applicants' income is counted. Mr. Lucero
replied that household income is all income from all adult (1f; years of age or older) household
members.
Committee Member Avanzino asked if the calculation being .presented is assuming that the
applicant is getting 100% financing. Mr. Lucero replied that the calculation presented does not
assume that an applicant is receiving 100% financing. The City will be revising the current
BMR guidelines to require applicants to have, at least, a 5% down payment.
Committee Chair Parkman clarified that the total household income is being counted and not
just the income of those who are going to hold Title on the hcme.
Mr. Lucero stated that Staff is currently working with City Attorneys to solidify the definition
of a household.
Mr. Lucero stated that Staff is proposing to eliminate very-low-income units due to stringent
mortgage financing and developers having difficulty finding very-low-income households. He
further stated that very-low households are being qualified With more money because their
gross pay is being qualified, and not their net income. He stated that very-low-income
households, often, are not able to fund the proper maintenance for their home once purchased.
Mr. Lucero stated that, in addition to setting prices for BMR l7or-Sale units, Staff is also
proposing to set rental rates for BMR For-Rent units. He clar:.fied that, currently, the rental
prices for BMIZ For-Rent units are calculated the same way prices for BMR For-Sale units are
being calculated. Mr. Lucero briefly compared the way rental prices are currently calculated
with the way Staff is proposing to calculate them in the future.
Committee Member Avanzino asked why the one and a half person per bedroom rule isn't
being applied to the BMR rental guidelines. Mr. Lucero replied that Staff is considering
applying the "two plus one" rule.
Committee Member Avanzino asked what happens if a developer is receiving funding from
TCAC. Mr. Lucero replied that if a developer has some kind of other funding sources like
TCAC or low-income tax credits, the City would follow the guidelines required by the source of
funding, as oppose to the Inclusionary Zoning Ordinance, to enable to developer to keep their
source of funding.
Committee Member Garren asked if rents are adjusted downward to allow for utilities. Mr.
Lucero replied that if the tenant's rent does not include utilities, the Alameda County Housing
Authority's standard utility allowance would be subtracted from the maximum rent.
Committee Member Garren stated that the Inclusionary Zoning Ordinance Update presentation
was received well at the Developer Meeting on Tuesday, October 7, 2008.
Mr. Lucero concluded the presentation and opened the floor For comments.
Housing Committee 44 October 9, 2008
DRAFT
DRAFT
Committee Member De Diemar asked if there is a downside to the update. Mr. Lucero replied
that changes have been requested by the development community and the proposed changes
would enable Staff to run the BMR program much more efficiently. Mr. Lucero stated that the
Inclusionary Zoning Ordinance has not been updated since 2005 and needs to be updated due
to the market fluctuation. He further stated that the proposed changes will help uniform the
City's Housing Programs with .Alameda County and other jurisdictions.
Committee Chair Parkman stated that having fixed sales prices for BMR For-Sale units is a great
idea.
Committee Member De Diemar asked why 35% of the total household income is calculated for
household expenses as oppose to another percent. Mr. Lucero replied, stating that 35% is what
the City currently uses per the I nclusionary Zoning Ordinance; in addition, 35 % is the
qualifying ratio the financial industry uses.
Committee Member De Diemar asked what the rational is foi eliminating very-low BMR For-
Sale units. Mr. Lucero replied that, currently, mortgage financing is very stringent, making it
much more difficult for very-low-income households to qualify for a loan. Mr. Lucero stated
that many very-low-income households may have a total del t-to-income ratio that does allow
for access for a mortgage loan and, in addition, many lenders use the gross income for
calculations as oppose to the net income, leaving many very- -ow-income households unable to
maintain their purchased property.
Ms. Gaylene Burkett, Housing.Assistant, stated that many very-low-income applicants have just
enough money in their Savings account for a down payment; however, this leaves them with
very little reserves after escrow closes.
Committee Member Avanzino stated that eliminating very-low-income units enables the
development community to leave those specific types of units out, but does not discourage
eligible households from buying units.
Mr. Lucero stated that the City wants to avoid setting people up for failure. He further stated
that the City works with the Tri-Valley Housing Opportunity Center so that potential BMR
buyers can get the proper education and resources for successful homeownership.
On a motion by Committee Member Avanzino and a second by Committee Member De
Diemar, the Housing Committee unanimously approved forwarding the recommended
changes to Planning Commission for review.
UNFINISHED BUSINESS - NONE
OTHER BUSINESS
Housing Committee 45 October 9, 2008
DRAFT DRAFT
9.1 Staff Updates
Mr. Lucero stated that Staff is moving forward with the First Time Homebuyer Loan Program
(FTHLP). He further stated that Staff is seeing more FTHLP applicants with market rate homes
as oppose to below market rate homes.
Committee Member Garren asked if the Housing Committee has recommended $750,000 for the
Fiscal Year 08--09 FTHLP. Ms. Jeri Ram, Community Development Director, replied that
$750,000 was recommended but City Council approved $500,000.
Mr. Lucero briefly discussed the FTHLP guidelines.
Committee Chair Parkman asked if the Resale Restriction Agreements for below market rates
units are being recorded first. Mr. Lucero replied that Staff iE currently discussing that with
City Attorneys. He stated that the Resale Restriction Agreements are currently being recorded
second and clarified that the Performance Deed of trust does not hold any monetary value.
ADJOURNMENT
The meeting was adjourned at '7:11 p.m.
Respectfully `,submitted,
Housing Conunittee Chair
ATTESTED:
Community Development Director
K: (Housing Committee Winutes1200&10.9.08.doc
Housing Committee 46 October 9, 2008