Reso 2005-109 - Laserfiche WebLink

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POLICIES AND ACTIONS Policy 54.04 LONG-TERM AFFORDABILITY RESTRICTIONS Ensure that housing units that are created or rehabilitated with financial assistance from the City (or that are created through the City's inclusionary housing ordinance) include restrictions to ensure that they will remain affordable for the maximum length of time allowable under federal, state and local regulations.'. Long-term affordability restrictions should be required for affordable housing projects outside of redevelopment project areas as well as those within. Appropriate resale and tenant occupancy requirements (such as deeds of trust and/or rent limitation agreements) should be established for such units to ensure that they are reserved for low and moderate income households when occupancy changes. PROGRESS Depending on the funding sources (i.e.: HUD; RDA Set-Aside), the City typically secures the longest terms when new affordable units (ownership and rental) are created. Affordability terms are secured through a formal agreement with the Redevelopment Agency or through a deed restriction as appropriate. Action 54.04 - A: For affordable units covered through the new lnclusionary Zoning Ordinance, the affordability term is 45 years minimum for ownership units and 55 years minimum for rental units. Action 54.04-A: Long-Term Affordability Requirements Explore ordinance revisions and other legal means to guarantee the long-term affordability of future housing units that receive financial assistance from the City or that are produced pursuant to City regulations. These revisions could include longer affordability terms for new units created through the apartment rehabilitation and inclusionary pausing programs. Policy 54.05 RESIDENT PREFERENCES To the extent permitted by law, ensure that persons who live and/or work in San Leandro are given preference when screening applicants for housing developments receiving financial assistance from the City. Housing Division staff conducts a variety of outreach efforts in order to inform San Leandro residents of available housing assistance such as advertising in mass-circulated mediums. The City maintains a waiting list for existing and new ownership units in order to keep available units occupied. Furthermore, the City's Inclusionary Zoning Ordinance provisions feature preferences for City and school district employees and San Leandro residents. ~ For projects within Redevelopment Project Areas, state law requires that the units remain affordable for 55 years if they are rentnls and 45 years if they are for sale. For projects outside of Redevelopment areas, the terms vary depending on the funding source or the regulatory tool used to create the units. Year 2004 Annual Housing Progress Report 23 City Of San Leandro