Excerpt from Monterey County's Inclusionary Housing Ordinance. Use your browser's back button or click here to return to the table. Download entire text of the Inclusionary Housing Ordinance in pdf format (200kB, requires Adobe Reader). | ||
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Monterey County Codes Title 18 BUILDINGS AND CONSTRUCTION 18.40.110 OCCUPANCY AND CONTINUING AVAILABILITY OF UNITS ***
C. Terms of Affordability; New and Existing Inclusionary
Units: For both for sale and rental inclusionary units,
affordability and occupancy restrictions shall remain in effect in perpetuity
and shall apply to any replacement structure or structures constructed if a
structure containing an inclusionary unit or units is demolished or destroyed,
provided that if demolition or destruction of a structure containing
inclusionary units occurs 55 years or more after recording of the restrictions
and said demolition or destruction was unintentional, restrictions on the units
in the structure shall terminate on demolition or destruction. For-sale and
rental inclusionary units approved before an amendment to this Chapter shall
remain subject to the terms of this Chapter at the time the units were
approved, and for-sale and rental inclusionary units in pending developments
shall remain subject to the terms of this Chapter at the time the pending
development application was deemed complete, subject in all cases to section
18.40.100.D. of this Chapter and further provided that, where a for-sale
inclusionary unit is transferred and the new owner is required to enter into
new regulatory documents under this Chapter, the new regulatory documents will
provide for affordability in perpetuity. (Underline added.) |