Cal. Code Regs. Tit. 21, § 1483.1 Priority 3: Use Restrictions

• Library: California Code of Regulations
• Edition: 2023
• Currency: Current through Register 2023 Notice Reg. No. 52, December 29, 2023
• Citation: Cal. Code Regs. Tit. 21, § 1483.1
• Year: 2023

(a) Restrictions. As a condition for sale at a Reasonable Price at Priority 3, a Housing-Related Public Entity shall agree to Use and Resale Restrictions containing the terms, conditions, and restrictions imposed by the Department to ensure the property remains available to Persons and Families of Low or Moderate Income. The Use and Resale Restrictions described in § 21undefined1485.1 shall apply to properties purchased at Priority 3, with:

(1) All references to "Priority 5" shall be read as "Priority 3", and

(2) All references to "Housing-Related Private Entity" shall be read as "Housing-Related Public Entity" except those references in § 21undefined1485.1(c)(1).

(b) Provisions Specific to Properties in the City of Pasadena. If the Surplus Residential Property offered at Priority 3 is within the City of Pasadena, then:

(1) In addition to the restrictions described in § 21undefined1485.1(b), the Housing-Related Public Entity, excluding sales as specified in § 21undefined1477.2(a)(5) to the City of Pasadena, shall cause the Surplus Residential Property to be developed as a limited equity cooperative with first right of occupancy to present Occupants, unless the Housing-Related Public Entity determines such a cooperative is not feasible.

(2) Section 21undefined1485.1(e) shall not apply.

(3) § 21undefined1485.1(c)(2)(B) shall not apply. Instead, for Surplus Residential Properties not sold as specified by § 21undefined1477.2(a)(5) § 21undefined1485.1(c)(2)(B) shall be read as saying: "All profits from the subsequent sale by the Housing-Related Public Entity shall be dedicated to the construction of housing for Persons and Families of Low or Moderate Income within Pasadena, South Pasadena, Alhambra, La Canada Flintridge, or the 90032 postal ZIP Code."

(4) As a condition for sale of unoccupied Surplus Residential Properties at the Minimum Sales Price to the City of Pasadena at Priority 3, under § 21undefined1477.2(a)(5), the City of Pasadena shall agree to Use and Resale Restrictions containing the terms, conditions, and restrictions imposed by the Department to ensure compliance with Government Code section California Government Codeundefined54239.5 The Use and Resale...