Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing topic
No spam. Unsubscribe anytime.
Council enacts annual reporting requirement for moderate‑income deed‑restricted units
Summary
Council adopted an enabling ordinance requiring developers to submit annual reports demonstrating compliance with deed restrictions for moderate-income units; planning commission recommended the change and staff said deed restrictions commonly run 30 years for projects where the city required them.
Council considered an ordinance to codify reporting requirements for developers who provide deed-restricted moderate-income housing. Staff said the planning commission recommended the ordinance to ensure the city can verify that required rent-restricted units remain in place and that reporting will streamline annual state reporting.
A staff presenter explained that deed restrictions used to guarantee moderate-income rent levels are typically time-limited (staff said the city has used 30-year restrictions for those projects) and that the ordinance would require an annual form to show compliance. "This just says, hey, developer built something. You need to be reporting annually to the city to show that you're following through with having those units," the presenter said. Councilmember Rogers moved to approve the enabling ordinance; the motion was seconded by Kristen and carried unanimously.
Council and staff said the new requirement will help maintain records, aid state reporting and, where necessary, allow the city to follow up if reporting is not submitted.
