DOC

Chapter 16

By Chris Ferguson,2014-10-11 20:06
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Chapter 16

     Municipal Code

     Chapter 16.43- Affordable Housing

Section 16.43.010 - Purpose

    The purposes of this chapter are to:

     A. Implement the housing goals of the City of Loveland Affordable Housing Policy as adopted by

    resolution of the City Council;

     B. Promoted the construction of housing that is affordable to the community's workforce;

     C. Retain opportunities for people that work in the City to also live in the City;

     D. Maintain a balanced community that provides housing for people of all income levels; and

     E. Promote availability of housing options for low and moderate income residents and for special

    needs populations. (Ord. 4881

     ? 6, 2004)

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    Section 16.43.020 - Affordable Housing Fund Established

There is created a special fund to be known as the Affordable Housing Fund for the purpose of receiving

    all revenues related to affordable housing programs and services. The fund and any interest earned in

    that fund shall be for the specific use of those programs and services as determined by the City Council. (Ord. 4881 ? 6, 2004)

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    Section 16.43.030 - Revenue Sources for Affordable Housing Fund The Affordable Housing Fund shall be funded through revenues derived from payments to the City as

    set forth in Section 16.43.080.B of this Chapter, from gifts or grants, and from appropriations from the General Fund or other funds, as the City Council may from time to time establish or approve. (Ord.

    4881 ? 6, 2004)

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    Section 16.43.040 - Design Standards for Affordable Housing Fund

The design standards set forth in Chapter 16.24 of this Title 16 may be modified for subdivisions which

are affordable housing developments in accordance with the “Site Development Performance Standards

    and Guidelines for Affordable Housing” found in chapter 7 of the “Site Development Standards and Guidelines” adopted by the City, so long as the design of the subdivision remains at all times consistent

    with the overall health, safety and welfare of the future residents of the subdivision. All design

    modifications for affordable housing developments shall be subject to the approval of the Community

    Services Department Director. (Ord. 4881 ? 6, 2004)

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    Section 16.43.050 - Expedited Development Review for Affordable Housing Developments

    The City shall process all applications for affordable housing developments on an expedited time line. Complete applications for affordable housing developments shall be placed ahead of all other complete

    applications in the review process. All required reviews of applications for affordable housing

    developments by City staff members and City boards and commissions shall be accomplished in as

    expeditious a manner as possible consistent with good planning principles. (Ord. 4881 ? 6, 2004) Back to top

    Section 16.43.060 - Dispersion of Affordable Housing Units

    Where affordable housing units are part of a residential development also containing market-rate housing, the planning commission shall review the preliminary plat to ensure that affordable housing units shall, to the extent possible without creating practical difficulties, be mixed with the other residential units and not clustered together or segregated in any way from market-rate housing in the development. The Community Services Department Director, in all instances, shall have the

    discretion to approve the final location and distribution of affordable housing units in the development on the final plat, provided that such locations are in substantial compliance with the planning

    commission’s approval of the preliminary plat. (Ord. 4881 ? 6, 2004) Back to top

    Section 16.43.070 - Plat Designation of Affordable Housing Units Required All preliminary and final plats which include affordable housing developments or affordable housing

    units shall indicate which dwelling units shall be constructed as affordable housing units. For single-family detached dwelling units, each lot upon which an affordable housing unit is to be constructed shall be designated on the preliminary and final plat. For multi-family housing or duplex housing, the

    preliminary and final plat shall indicate the percentage of units within the development which shall be

    constructed as affordable housing units. An affordable housing development may be developed in

    phases. For a phased development, each preliminary and final plat shall indicate which dwelling units

    shall be constructed as affordable housing units. The Community Services Department Director, in all instances, shall have the discretion to approve the number and phasing of affordable housing units

    within a phased development on the final plat. The Community Services Department Director shall

    also have the authority to approve administrative amendments to final plats changing the number

or location of affordable housing units designated on a final plat, provided that such locations are

    in substantial compliance with the planning commission’s approval of the preliminary plat and

    with all other applicable provisions of this Chapter. (Ord. 4881 ? 6, 2004) Back to top

Section 16.43.080 - Deed Restriction or Encumbrance of "For Sale" Affordable Housing Units

    Required

    A. Certificate of Occupancy. No certificate of occupancy shall be issued for any “for-sale” single-family dwelling, multi-family building or duplex containing an affordable housing unit(s) unless (1) the

    applicant provides documentation satisfactory to the Community Services Department Director that the

    building for which the certificate of occupancy is requested contains the required number of affordable

    housing units identified on the final plat, and (2) a deed restriction or encumbrance, in a form approved

    by the City Attorney, prohibiting the sale of the affordable housing unit(s) to any person or entity other than a qualifying household, and prohibiting the rental of the property, for a period of twenty (20) years

    from the date of the initial purchase of the affordable housing unit(s) has been placed on the property.

    The deed restriction or encumbrance shall contain a provision stating that it is the intent of the parties

    that the respective rights and obligations set forth in the deed restriction or encumbrance shall constitute

    covenants, equitable servitudes, and/or liens that run with the land and shall benefit and burden any personal representatives, successors and assigns of the parties. The deed restriction or encumbrance

    shall also contain a provision indicating that it automatically expires twenty (20) years after the date of

    the initial purchase of the affordable housing unit by the initial qualifying household, provided there is

    no existing default under the deed restriction or encumbrance.

    B. Payment required. All “for-sale” affordable housing units must be owner-occupied. In consideration of the benefits conferred upon the affordable housing development by the City, if the owner sells the

    unit to a household that does not meet the City’s definition of a qualifying household the owner must

    pay the City the percent of Net Proceeds required by the following chart: Number of years from original sale Percentage of Net Proceeds due to City 0-5 years 25%

    5-10 years 20%

    10-15 years 15%

    15-20 years 10%

 &nbs