ORD 1729 - Laserfiche WebLink

1. Availability of Building Permits to Affordable Projects. a. Initial Sub-Allocation and Carry-Over. The affordable housing project sub-allocation shall be initially available in the year it first appears. If not used, or partially used, the unused units shall be added to the following year's affordable housing sub-allocation, and all unused units shall continue to carry over to succeeding years in the event they are not fully used. b. Use of Future Years' Sub-Allocations. In addition to utilizing the existing year's sub-allocation (including any units carried over from prior years), a qualifying project developer may use up to four succeeding years' sub-allocations as described below. (i) The yearly units allowed to be built in an affordable housing project, when added to the units in all other projects, may exceed the annual maximum limitation established in subsection 17.36.060(A), but in no event may an affordable housing project developer be granted an allocation for any year which, when added to all other projects, would exceed the General Plan yearly limitation for building permits (750 units). (ii) The use of up to four succeeding years' sub-allocations shall be allowed only if there are units available in the affordable housing sub-allocation for the initial year for which the approval is sought. The initial year for the affordable housing sub-allocation, pursuant to subsection 17.36.070(B)(1), is 2001. No new affordable housing project shall be approved for any year which has had that year's annual sub-allocation totally allocated to another project. (iii) Although Year 2000 has no initial sub-allocation for affordable housing projects, projects in Year 2000 shall be eligible to utilize future year's sub-allocations (2001-2004) pursuant to the regulations established in subsection 17.36.080(A)(1)(b).