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1994 SESSION
LD6742204Patrons--Scott, Almand, Callahan, Cohen, Connally, Crittenden, Hull, Mayer, McClure, Plum, Puller and Rollison; Senators: Calhoun, Holland, E.M. and Howell
Be it enacted by the General Assembly of Virginia:
1. That §§ 11-47.3 and 15.1-491.9 of the Code of Virginia are amended and reenacted as follows:
§ 11-47.3. (Expires July 1, 1997) Preference for community reinvestment activities in contracts for investment of funds.
Notwithstanding any other provision of law, any county or city which is
authorized to and has established affordable housing programs pursuant to
§ 15.1-491.8 or § 15.1-491.9 may provide by resolution that in
determining the award of any contract for time deposits or investment of its
funds, the treasurer or director of finance of such county or city may
consider, in addition to the typical criteria, the investment activities of
qualifying institutions which enhance the supply of, or accessibility to,
affordable housing within the jurisdiction. No more than twenty-five percent
of the funds of the county or city, calculated on the basis of the average
daily balance of the general fund during the previous fiscal year, may be
deposited or invested by considering such investment activities as a factor
in the award of a contract. A qualifying institution shall meet the
provisions of the Virginia Security for Public Deposits Act (§ 2.1-359 et
seq.) and all local terms and conditions for security, liquidity and rate of
return.
This section shall expire on July 1, 1997. However, all contracts awarded under the authority of this section shall be performed in accordance with their terms.
§ 15.1-491.9. Affordable dwelling unit ordinances in certain counties and cities.
A. In furtherance of the purpose of providing affordable shelter for all
residents of the Commonwealth, the governing bodies of (i) counties or
cities adjacent to or completely surrounded by counties having the urban
county executive form of government, (ii) cities completely surrounded by
counties having the county executive form of government, (iii) cities with
populations of more than 31,000 but less than 66,000, (iv) cities with
populations of more than 140,000 but less than 160,000, (v) counties with a
population of more than 40,000 but less than 45,000, (vi) counties that have
a population of more than 64,000 but less than 73,000, (vii) counties that
have a population of more than 34,600 but less than 36,000, and (viii)
counties that have a population of more than 45,700 but less than
45,800 any county, city or town may by amendment to the
zoning ordinances of such county or, city or town
provide for an affordable housing dwelling unit program. Such program
shall address housing needs, promote a full range of housing choices, and
encourage the construction and continued existence of moderately priced
housing by providing for optional increases in density in order to reduce
land costs for such moderately priced housing. Any local ordinance of any
other locality providing optional increases in density for
provision of low and moderate income housing adopted before December 31,
1988, shall continue in full force and effect.
B. A zoning ordinance establishing an affordable housing dwelling unit program may include, among other things, reasonable regulations and provisions as to any or all of the following:
1. For a definition of affordable housing and affordable dwelling units.
2. For application of the requirements of an affordable housing dwelling unit
program to any site, as defined by the county or,
city or town, or a portion thereof at one location which is the
subject of an application for rezoning or special exception or, at the
discretion of the local governing body, site plan or subdivision plat which
yields, as submitted by the applicant, fifty or more dwelling units at an
equivalent density greater than one unit per acre and which is located within
an approved sewer area.
3. For an increase of up to twenty percent in the developable density of each site subject to the ordinance and for a provision requiring up to twelve and one-half percent of the total units approved, including the optional density increase, to be affordable dwelling units, as defined in the ordinance. In the event a twenty percent increase is not achieved, the percentage of affordable dwelling units required shall maintain the same ratio of twenty percent to twelve and one-half percent.
4. For increases by up to twenty percent of the density or of the lower and
upper end of the density range set forth in the comprehensive plan of such
county or, city or town applicable to
rezoning and special exception applications that request approval of single
family detached dwelling units or single family attached dwelling units, when
such applications are approved after the effective date of a local affordable
housing zoning ordinance amendment.
5. For a requirement that not less than twelve and one-half percent of the total number of dwelling units approved pursuant to a zoning ordinance amendment enacted pursuant to subdivision B 4 of this section shall be affordable dwelling units, as defined by the local zoning ordinance unless reduced by the twenty to twelve and one-half percent ratio pursuant to subdivision B 3 of this section.
6. For increases by up to ten percent of the density or of the lower and
upper end of the density range, whichever is appropriate, set forth in the
comprehensive plan of such county or, city or town
applicable to rezoning and special exception or, at the discretion of
the local governing body, site plan and subdivision plat applications that
request approval of nonelevator multiple family dwelling unit structures four
stories or less in height when such applications are approved after the
effective date of a local affordable housing zoning ordinance. However, at
the option of the applicant, the provision pursuant to subdivision B 4 shall
apply.
7. For a requirement that not less than six and one-quarter percent of the total number of dwelling units approved pursuant to a zoning ordinance amendment enacted pursuant to subdivision B 6 of this section shall be affordable dwelling units, as defined in the local zoning ordinance. In the event a ten percent increase is not achieved, the percentage of affordable dwelling units required shall maintain the same ratio of ten percent to six and one-quarter percent.
8. For an additional density bonus of up to ten percent on affordable dwelling unit projects if the developer agrees voluntarily to offer appropriate contributions directed at construction or support of local mass transit needs.
9. For administration and regulation by a local housing authority or by the local governing body or its designee of the sale and rental of affordable units.
910. For a local housing authority or local governing
body or its designee to have an exclusive right to purchase up to one-third
of the for-sale affordable housing dwelling units within a development within
ninety days of a dwelling unit being completed and ready for purchase,
provided that the remaining two-thirds of such units be offered for sale
exclusively for a ninety-day period to persons who meet the income criteria
established by the local housing authority or local governing body or the
latter's designee.
1011. For a local housing authority or local governing
body or its designee to have an exclusive right to lease up to a specified
percentage of the rental affordable dwelling units within a development
within a controlled period determined by the housing authority or local
governing body or its designee, provided that the remaining for-rental
affordable dwelling units within a development be offered to persons who meet
the income criteria established by the local housing authority or local
governing body or its designee.
1112. For the establishment of jurisdiction-wide
affordable dwelling unit sales prices by the local housing authority or local
governing body or the latter's designee, initially and adjusted semiannually,
based on a determination of all ordinary, necessary and reasonable costs
required to construct the affordable dwelling unit prototype dwellings by
private industry after considering written comment by the public, local
housing authority or advisory body to the local governing body, and other
information such as the area's current general market and economic
conditions, provided that sales prices not include the cost of land, on-site
sales commissions and marketing expenses, but may include, among other costs,
builder-paid permanent mortgage placement costs and buy-down fees and closing
costs except prepaid expenses required at settlement.
1213. For the establishment of jurisdiction-wide
affordable dwelling unit rental prices by a local housing authority or local
governing body or its designee, initially and adjusted semiannually, based on
a determination of all ordinary, necessary and reasonable costs required to
construct and market the required number of affordable dwelling rental units
by private industry in the area, after considering written comment by the
public, local housing authority, or advisory body to the local governing
body, and other information such as the area's current general market and
economic conditions.
1314. For reasonable regulations requiring the
affordable dwelling units to be built and offered for sale or rental
concurrently with the construction and certificate of occupancy of a
reasonable proportion of the market rate units.
1415. For a requirement that the prices for re-sales
and re-rentals be controlled by the local housing authority or local
governing body or designee for a period of fifty years after the initial sale
or rental transaction for each affordable dwelling unit, provided that the
zoning ordinance further provide for reasonable rules and regulations to
implement a price control provision.
1516. For establishment of an affordable dwelling unit
advisory board which shall, among other things, advise the jurisdiction on
sales and rental prices of affordable dwelling units; advise the housing
authority or local governing body or its designees on requests for
modifications of the requirements of an affordable dwelling unit program;
adopt regulations concerning its recommendations of sales and rental prices
of affordable dwelling units; and adopt procedures concerning requests for
modifications of an affordable housing dwelling unit program. Members of the
board, to be nine in number and to be appointed by the governing body, shall
be qualified as follows: two members shall be either civil engineers or
architects, each of whom shall be registered or certified with the relevant
agency of the Commonwealth, or planners, all of whom shall have extensive
experience in practice in the city or, county or
town; one member shall be a representative of a lending institution
which finances residential development in the city or,
county or town; four members shall consist of a representative
from a local housing authority or local governing body or its designee, a
residential builder with extensive experience in producing single family
detached and attached dwelling units, a residential builder with extensive
experience in producing multiple family dwelling units, a representative from
either the public works or planning department of the city or county; one
member shall be a representative of a nonprofit housing organization which
provides services in the city or, county or
town; and one citizen of the city or, county
or town. At least four members of the advisory board shall be employed
in the city or, county or town.
1617. For standards of compliance with the provisions
of an affordable housing dwelling unit program and for the authority of the
local governing body or its designee to enforce compliance with such
standards and impose reasonable penalties for noncompliance, provided that a
local zoning ordinance provide for an appeal process for any party aggrieved
by a decision of the local governing body.
C. The sales and rental price for affordable dwelling units within a development shall be established such that the owner/applicant shall not suffer economic loss as a result of providing the required affordable dwelling units. "Economic loss" for sales units means that result when the owner or applicant of a development fails to recoup the cost of construction and certain allowances as may be determined by the designee of the governing body for the affordable dwelling units, exclusive of the cost of land acquisition and cost voluntarily incurred but not authorized by the ordinance, upon the sale of an affordable dwelling unit.
D. Nothing contained in this section shall apply to any elevator structure four stories or above.
E. Any ordinance adopted hereunder shall provide that the local governing body shall have no more than 280 days in which to process site or subdivision plans proposing the development or construction of affordable housing or affordable dwelling units under such ordinance. The calculation of such period of review shall include only the time that plans are in review by the local governing body and shall not include such time as may be required for revision or modification in order to comply with lawful requirements set forth in applicable ordinances and regulations.
2. That § 15.1-491.8 of the Code of Virginia is repealed.