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HomeMy WebLinkAboutcoa.lu.ca.Condominiumization.77 .,.' ... ~ A 4-=+ UI PROPOSED ORDINANCE 20-22 Condominiumization In addition to all other requirements imposed in this Chapter, when application is made for subdivision of a tract of land to be used for condominiums, the applicant must comply with the following requirements: (a) That existing tenants be given fair notice and a 90-day exclusive non-assignable right of first refusal to purchase their unit at the preliminary market value at the time of first notice of intent to condominiumize, and (b) All units shall be restricted to six month minimum leases with no more than two shorter tenancies per year, and (c) The applicant shall demonstrate that approval will not reduce the supply of low and moderate income housing. Such demonstration shall be made at the time of conceptual plan submission. Evidence relating to the following criteria shall be considered in making this determination: 1. Evidence that illustrates there will be minimal tenant displacement as a result of the conversion. 2. Evidence that the conversion will not be exclusionary (unaffordable by persons of moderate income) . 3. Evidence that future prices of unit resales will not become exclusionary such as subscription to a right of first refusal or any other continuing control mechanism which may be private or devised by the Housing Authority. 4. Evidence that tenants who cannot purchase their units are relocated to similarly affordable - ^ housing if they so desire and moving expenses up to $150.00 are paid by applicant. 5. Evidence that future occupancy of the units will be made available to local employees of moderate incomes. 6. Evidence regarding a long term lease arrange- ment to the present tenants. 7. Evidence that the prospective purchaser(s) is an employer or group of employers who intends to rent the unit(s) to his employees. and (d) Notwithstanding applicant compliance with the requirements set forth above, no subdivision approval shall be granted if any of the following have been found to exist by the Housing Authority: 1. Long-term rental vacancy rates are below 5%. 2. The proposed conversion would reduce the ratio of rental and owned units to less than 1 to 4. -2- - ~ . '. """" ^ . CITY OF ASPEN PLANNING AND ZONING COMMISSION RESOLUTION NO. RE: Policy for Condominiumization of Duplex and 11ulti- Family Dwelling Units WHEREAS, the Aspen City Council requested the City Attorney at their May 23rd meeting to prepare an Ordinance. which would require multi-family condominiumizations to comply with the following require- ments: -, 1. That existing tenants be gi~n fair notice and a 90- day exclusive non-assignable right of'first refusal to purchase their unit at the preliminary market value at the time of first notice of intent to condo- miniumize, and/ 2. That each unit be restricted to six month minimum lease restrictions, and WHEREAS, by memorandum dated May 3l, 1977, the City Attorney notified Planning and Zoning of Council's request.for an ordinance and suggested - at Council's request - that the Planning and Zoning consider additional policy guidelines that would be considered for each appli- cation on a case by case basis, and WHEREAS, the Planning and Zoning Commission heard a report at their July 5th meeting prepared by the Housing Di~ector detailing the impact of condominiumizations on the employee housing market and making recommendations for policy to mitigate against any adverse impacts on the pool of housing available to local permanent residents, and WHEREAS, the Planning and Zoning Commission considered the recommendations again at their regular August l6th meeting and at a special meeting held on August 23rd and finds that it is necessary and in the publ ic interest that additional pol icy guidel ihes be drafted to include a policy aimed at maintaining a supply oflo\'i and moderate incon~ housing and suggested general criteria for approval in accordance with stated pol icy. NOW THEREFORE 8E IT RESOLVED that the Planning and Zoning Commission supports the two requirements for multi-family condominium" ization which were adopted by the Council on May 23rd and further r>" .t""">, . r~commends that Council consider an Ordinance for both duplex and multi- family condominiumization that contains additional policy guidelines as follows: , 1. That duplex multi-family condominiumizations be allowed after review on a case by case basis. 2. That in each case, the applicant be requested to demonstrate the short and long term impacts of the proposal on the supply of low and moderate income housing. , / 3. That it be the policy to approve those condominiumi- zations which comply with the goal of maintianing a supply of low and moderate income housing (as such may be determi ned by the Housi ng Authority) avail abl e to and affordable/by the local resident which does not displace existing tenants, and which will remain within the low and moderate income category over the . long term. 4. That each applicant may choose the manner of demon- strating compliance with the housing goal by providing specific information at the time of Conceptual Plan Submission on any of the following criteria including but not limited to: a. evidence that illustrates there will be minimal tenant displacement as a result of the conversion. b. evidence that the conversion will not be exclusionary (unaffordable by persons of moderate income). c. evidence that future prices of unit resales will not become exclusionary such as subscription to a right of first refusal or any other continuing control mechanism which may be private or devised by the Housing Authority. d. evidence that tenants who cannot purchase their units are relocated to similarly affordable housing if they so desire. e. evidence that future occupancy of theunits will be made available to local employees of moderate incomes. f. evidence regarding a long term lease arrangement to the present tenants. - 2 - ".. .. ,,-.., 1"""1 . g. evidence that the prospective purchaser(s) is an employer or group of employers who intends to rent the unit(s) to his employees. \ , AND BE IT FURTHER RESOLVED THAT the Planning and Zoning Commission will continue to review all condominiumizationappl ications in accordance with existing policy adopted by the City Council unless and until City Council makes any amendments or additions thereto. Approved thi s ~ tI day of fl-8?r;;6e-r, 1977. ~ Charles Collins, Chairman Aspen Planning and Zoning Commission / I, El/~C<.hefh ~i'YIl! ,Deputy City Clerk do hereby certify that the foregoing resolution was adopted by the Aspen Planning and Zoning Commission at its meeting' held September 6, 1977. .2LAc< {t}/e:J.-t S~ Deputy City Clerk - 3 -