City Council

2.U. ANALYSIS OF THE CITY’S HOA FEE POLICY IN\nINCLUSIONARY HOUSING CONDOMINIUMS [L.\nBIERY, B. LEAGUE, A. BARTLE]:\nStaff will provide an update on the analysis of the\nCity’s HOA fee policy in condo buildings with\ninclusionary housing and provide policy\nrecommendations to better achieve both the goal of\nmaintaining the inclusionary units affordable for\nlower-income families and qualified nonprofit owners\nand mitigating the impact of the cap on the owners of\nthe market rate units in the development.\nRECOMMENDATIONS: 1) Receive an update on\ncaps for HOA assessments for inclusionary housing\nunits; 2) Direct staff to amend the municipal code to\nnarrow the applicability of its current policy - the cap\non assessments charges to the inclusionary units -\nsuch that it is only applicable where the inclusionary\nunits are owned by a lower-income households or a\nqualified nonprofit; and 3) Direct staff to further\ndevelop the inclusionary housing ownership program\nso that inclusionary units in condominium projects\ncan be directly sold to moderate- and lower-income\nhouseholds, rather than continuing to be owned and\nrented out by the developer of a building and/or a\nnonprofit organization with no change to the current\ncaps on assessments for affordable units.\nSTAFF REPORT