Ordinance No. 18655 - Laserfiche WebLink

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1865s Section 13. Conversion Rate Re ort. The Director shall report to the City Council by January i of each year on the num- ber and rate of conversions for the previous calendar year. Such report shall note whether the issued conversion permits exceed the level allowed under the advisory conVexsgn rate formula as set forth hereunder. The current year's units alloyed to convert under this advisory formula shall be equal to the estimated supply of new multi family units minus the expected demand due to popu- lation increases, adjusted for the estimated ~.oss of rental units due to conversion. The estimated supply shall be the annual aver age of issued building permits for multi--unit and duplex housing units for the preceding three calendar years. The expected de- mand shall be the average annual population increase minus new population due to annexation already haused~ and minus any new population housed in group quarters. Such demand figu~~e shall be divided by the avexaae household -size to determine the additional housing units needed. The additional needed housing unit figure shall be multiplied by the estimated percentage of occupants who rent to determine the number of needed rental .units. This number of .needed rental units shall be subtracted from the supply figure to determine the current years units allowed to be converted, The total units allowed to convert in the current calendar year shall be equal to the current year's units divided by the percent of units expected to be occupied by former homeowners plus any carryover in units allowed to be converted in prior years. The carryover shall be a carry forward for up to three years of any unused allocation of allowable condominium conversions under this formula. No carryover shall be allowed for any year preceding the effective date of this Ordinance. The surplus to be carried aver from one year to the next shall be equal to the units allowed to convert far that year minus the actual number of units for which a final condominium permit is issued during that year, The average annual population growth, average annual growth due to annexation, average annual growth in group quarters population, percentage of households which are renters., and per- centage of converted units expected to be occupied by former owners shall be set~by administrative rules issued hereunder. Section 14. This Ordinance is hereby declared to be an emergency measure to take effect immediately. The facts consti-- tuting an emergency are the expiration of the existing moratorium on the conversion of residential structures to condominium owner- ship, the existence-of numerous residential structures within the City of Eugene which have been proposed for conversion to condo- minium ownership, the need to insure, in the interest of the public health, safety and welfare, that the regulations contained in this ordinance take effect before the expiration Qf the mora-~ toriurn and be made applicable to all proposed residential condo-~ minium conversions. Pas ed by the C~,ty Council this day of ~ ~~.v1 ~ , 19 8 Q _ _ _ _ ~ .. ~/ ~'L~. City Recor er Appr ved by the Mayor- his of ~~~ ~ 198D Mayor ordinance ~- 2 7 .