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Hearing to consider General Plan Amendment A06-0005 to amend Policy HO-3g to provide a 10-year waiting period for condominium conversions for any apartment and a 20-year period for affordable rental units; said Amendment regulates the time frame in which apartment complexes may be converted to condominiums in order to retain affordable housing in the form of rental stock in the County.
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RECOMMENDED ACTION: The Planning Commission recommends the Board take the following action: Approve A06-0005, based on the findings listed on Attachment 1.
Background: This amendment was considered by the Planning Commission on December 14, 2006, and unanimously recommended for approval. There was no one from the public wishing to give input. There were no new significant issues discussed other than those in the staff report.
The amendment would read as follows: Policy HO-3g: New multifamily affordable housing developments Apartment complexes, duplexes, and other multifamily rental housing shall not be converted to condominiums for at least twenty ten years after issuance of the Certificate of Occupancy. Apartment complexes, duplexes, and other multifamily rental housing that contain any units restricted to households earning 120% or less of the area median family income (MFI) shall not be converted to condominiums for at least twenty years after issuance of the Certificate of Occupancy.
Contact: Gregory L. Fuz (5445)/Lawrence W. Appel (7698)/Peter N. Maurer (5331)