Agenda Packet 4-9-11 Work Session

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(a) May not require more than 20 percent of housing units within a multifamily structure to be sold or rented as affordable housing; (b) May apply only to multifamily structures containing at least 20 housing units; (c) Must provide developers the option to pay an in-lieu fee, in an amount determined by the city or county, in exchange for providing the requisite number of housing units within the multifamily structure to be sold or rented at below-market rates; and (d) Must require the city or county to offer a developer of multifamily structures, other than a developer that elects to pay an in-lieu fee pursuant to paragraph (c) of this sub- section, at least one of the following incentives: (A) Whole or partial fee waivers or reductions. (B) Whole or partial waivers of system development charges or impact fees set by the city or county. (C) Finance-based incentives. (D) Full or partial exemption from ad valorem property taxes on the terms described in this subparagraph. For purposes of any statute granting a full or partial exemption from ad valorem property taxes that uses a definition of ªlow incomeº to mean income at or below 60 percent of the area median income and for which the multifamily structure is otherwise eligible, the city or county shall allow the multifamily structure of the developer to qualify using a definition of ªlow incomeº to mean income at or below 80 percent of the area median income. (6) A regulation, provision or requirement adopted or imposed under subsection (4) of this section may offer developers one or more of the following incentives: (a) Density adjustments. (b) Expedited service for local permitting processes. (c) Modification of height, floor area or other site-specific requirements. (d) Other incentives as determined by the city or county. (7) Subsection (4) of this section does not restrict the authority of a city or county to offer developers voluntary incentives, including incentives to: (a) Increase the number of affordable housing units in a development. (b) Decrease the sale or rental price of affordable housing units in a development. (c) Build affordable housing units that are affordable to households with incomes equal to or lower than 80 percent of the median family income for the county in which the housing isbuilt. (8)(a) A city or county that adopts or imposes a regulation, provision or requirement described in subsection (4) of this section may not apply the regulation, provision or re- quirement to any multifamily structure for which an application for a permit, as defined in ORS 215.402 or 227.160, has been submitted as provided in ORS 215.416 or 227.178 (3), or, if such a permit is not required, a building permit application has been submitted to the city or county prior to the effective date of the regulation, provision or requirement. (b) If a multifamily structure described in paragraph (a) of this subsection has not been completed within the period required by the permit issued by the city or county, the devel- oper of the multifamily structure shall resubmit an application for a permit, as defined in ORS 215.402 or 227.160, as provided in ORS 215.416 or 227.178 (3), or, if such a permit is not required, a building permit application under the regulation, provision or requirement adopted by the city or county under subsection (4) of this section. (9)(a) A city or county that adopts or imposes a regulation, provision or requirement under subsection (4) of this section shall adopt and apply only clear and objective standards, conditions and procedures regulating the development of affordable housing units within its jurisdiction. The standards, conditions and procedures may not have the effect, either indi- vidually or cumulatively, of discouraging development of affordable housing units through unreasonable cost or delay. (b) Paragraph (a) of this subsection does not apply to: Enrolled Senate Bill 1533 (SB 1533-B)Page 2