20.52.370 Recorded agreement.
A. Form of Agreement. The execution of a density bonus housing agreement with the city in a form approved by the city attorney shall be a condition of the discretionary project approval or ministerial building permit. The agreement shall be a covenant that runs with the land and binds the owner and successors and assigns. The agreement shall be recorded prior to building permit issuance or, in the case of a subdivision, prior to final map approval.
B. Contents of Agreement. Provisions of the density bonus housing agreement may include, without limitation, the following:
1. The number of set-aside units, their floor area, number of bedrooms, location, and production schedule.
2. Ensure continued affordability of set-aside units for the requisite period.
3. Standard or index to establish maximum rent or sales price of affordable units.
4. Restrict rentals or sales of affordable units to persons and families of qualifying income levels and set forth the procedure to certify incomes.
5. Prohibit occupants from renting or subletting an affordable unit.
6. Control the resale of condominium set-aside units to provide for the recapture of any initial subsidy and any required equity-sharing payment to the city from the sale proceeds.
7. Specify requirements applicable to a child care facility, including floor area, percentage of patrons from qualifying income level families, and financial or other guarantee of continued operation for the mandated period.
8. Specify residency restrictions applicable to a senior citizen housing development or mobile home park.
9. Require compliance with state law, this part, and all other applicable regulations.
10. Set forth monitoring and reporting procedures, penalties, and enforcement mechanisms, such as a deed of trust to secure performance of obligations. (Ord. 690 § 4 (Exh. A), 2018).