SR 06:263 - Laserfiche WebLink

ordinance itself. As noted in the report, staiTis basically seeking the Commission's direction regarding the property owner's input. Mr. Bocian summarized these as follows: · Page 3 - Mr. Clark indicated that for an apartment project undergoing major renovation it may be impractical to retain a resident in hislher unit while the reconstruction is taking place. His recommendation is that there be a provision in the ordinance that allows that person to be relocated (permanently if agreeable to the tenant). Staff recognizes that this could happen and could add appropriate text to the draft ordinance. · Purchasing of units "as is" - Mr. Clark pointed out that there may be situations in which the renovation is so extensive that there are no units that can be sold "as is." He recommended a change to reflect this possibility. · Relocation service - Based on Mr. Clark's experience, tenants often prefer to move themselves rather than use a moving company. He feels that the owner should have the option to reimburse the tenant for moving expenses. Staffs concern is that some owners may try to 'low-ball' tenants. Mr. Clark suggested that there be language stating that the amount paid would be equivalent to that which would be paid to a moving company. · Time line for unit purchase decision - The ordinance allows six months for the tenant to make a decision on whether or not to purchase the unit. Mr. Clark feels that a total period of six months probably makes sense, but is concerned that you have a situation that if someone waits six months and then decides to exercise his/her option and then it takes another three months to get the financing in place you are looking at a long period of time. Mr. Clark recommends that you keep the six month period, but that six month period include the ability to obtain financing also. A discussion took place on this issue. · Expiration of approval. - The way the ordinance is currently drafted the City Council's approval expires after one year. Based on his experience, Mr. Clark feels that it may take a year from the approval to get everything in place (e.g., tenant decision, financing, etc.). Therefore, he recommends a three-year period. Staff understands that one year may short and feels that a two year expiration may be an appropriate compromise. · Affordability Level- The draft ordinance indicates that a conversion should have a minimum 25% of the units as affordable bast.>d on a Housing Element policy. Mr. Clark feels that 20% would be a more appropriate threshold. Mr. Bocian stated that staffs opinion is that the 25% target is preferable. · Vacancy rate. - The draft ordinance states that the citywide vacancy rate should be at least 5% in order to approve a conversion. Mr. Clark feels the threshold Page - 4-