SR 06:263 - Laserfiche WebLink

Page 5 of6 'whichever is less. Extended leases shall begin as of the date of approval of the condominium conversion. . At the time of conversion, any dwelling unit subject to this extended lease provision shall be refurbished at the expense of the developer in a like manner as those units to be sold as condominiums, and said dwelling unit shall be adequately maintained for the duration of the lease. Refurbishing shall include all cosmetic improvements (painting, linoleum, carpeting, drapes, counters, etc.) as well as any structural changes required of converted units. D. Tenant Relocation Assistance. All persons living in units or occupying mobile home spaces on the date of approval of the condominium conversion project who choose not to purchase units in the condominium conversion project shall be afforded the relocation assistance included below: 1. Relocation assistance provided by a professional property management agency, at the expense of the developer, in finding a comparable replacement rental unit; such assistance shall include, at a minimum, providing rental availability reports and updating same, assisting tenants inspect available units, and providing other personal services related to the relocation of each tenant; 2. Moving expenses paid for by the developer in an amount equal to the actual costs for any tenant relocating in the Tri-Valley Area, or five hundred dollars, whichever is less. The city council may adjust the maximum moving expense allowable year to year to reflect increases in costs; 3. Utility connection fees paid for by the developer in an amount equal to actual expenses up to a maximum of one hundred dollars. The city council may adjust the amount required in this subsection year to year to reflect increases in costs. E. Tenant Purchase Assistance. Tenants living in units or occupying mobile home spaces on the date of approval of the condominium conversion project shall be afforded the right to purchase their respective units or another unit in the complex under preferential terms. Preferential terms shall include the following: 1. First right to refusal to purchase their own unit; 2. Price reduction of fifty dollars per month for every month a tenant has resided in the complex, up to a maximum of one thousand dollars, from the price like units are offered to the general public; 3. Price reduction of one thousand dollars for electing to purchase the unit in an as-is condition rather than in a manner similar units are refurbished for sale to the general public. However, major renovation or improvements required of all units in meeting the standards of this chapter may not be waived and shall be completed by the developer; the price reduction shall be in lieu of cosmetic refurbishment; 4. Financing assistance, including broker-type assistance in locating financing and completing applications, loan qualifying assistance by providing secondary finance, equity sharing, or other such mechanism, and providing out-of-pocket expense in the course of obtaining financing up to a maximum of two hundred fifty dollars. Purchase assistance in subdivisions 2, 3 and 4 of this subsection shall be available for tenant purchase of either his own unit or space or any other unit or space in the complex and are minimum requirements only. Nothing in this section shall prevent a developer from offering additional preferential treatment. The city council may adjust the minimum figures found in subdivisions 2, 3 and 4 of this subsection year to year to reflect increases in costs. (Ord. 1 075 ~~ 2, 3, 1983; prior code ~ 2-25.10) http://66.113.195.234/CAIPleasantonldocbar.htm 7/10/2006