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IV U. I bU Y, y Adopted 7/16/2001 - Effective 8/~51200~ iwith amendments as of January 2006) City of San Leandro Zoning Code • Article 24 estimated property management costs, and homeowner association fees. If the conversion is approved, the developer shall provide information to the City on the number of tenants who actually purchased their unit. If at any time during the conversion approval process, a sufficient number of tenants decide not to purchase, or if misrepresentation is discovered, the Planning Commission shall have sufficient grounds for recommending denial of the use permit application. 3. The applicant agrees to sell or rent at affordable prices twenty five percent (25%) of the units to low- and moderate-income households, with a minimum of twenty percent (20%) of the units affordable to Iow- income households. ff the units are to be made available for purchase, the maximum sales price of units intended for low- or moderate- income households shell not exceed two and one hall (2%) times the annual median income for such households as defined by the California Health and Safety Code, Section 50093. Resale controls shall be included as a deed restriction. if the units are to be for rent, the maximum rent allowed shall preserve the units within the low- or moderate_income housing stock C~ Application for Conversion Required. No person shall convert or cause the conversion of an apartment building to a condominium without approval of a condominium conversion application by the Planning Commission, or, upon referral, the City Council. 5-2410 Required Reports and Information After preliminary applications are accepted for further discretionary review', the applicant shall submit all the information required for a use permit application, and a tentative ma pursuant to this Code. In addition, the applicant shall submit information documenting the the project as a whole will be in good repair on the interior and the exterior when offered for sale, AS part of the material necessary.for the City to determine this to be the case, the reports. and/or infomnation required by this Section shall be submitted. The -cost of al! reports shall be paid by the applicant, and the persons preparing the reports shall be approved by the City, The reports shall include information on what improvements, if any, shall be accomplished by the developer and at what point in the conversion proceedin s such improvements shall be completed. All improvements cited in the reports, whether required or voluntary, shall be considered conditions of approval to the extent specified in if_i~ condominium conversion: approval: ~ ~ ~ ""~ ~ - ~ ~ - . . The applicant shall be responsible for the remedy of physical conditions within individual units or common areas noted by a prospective purchaser and/or tenant, which have been missed by inspections or which occur subsequent to the inspections but prior to the close of escrow. In case of disagreement between the applicant and the prospective purchaser . -9-- . _ _ __ AR.24 Page 4 of 17