17.142.040 No net housing loss.
A. Development projects within the downtown planning area shall not result in a net housing loss. If the director determines that a development project would result in a net housing loss, the developer shall replace residential units to be removed, whether the units to be removed are occupied or not. Residential units shall be replaced on a one-for-one basis within the downtown planning area and shall be built concurrently with the development project. Replacement units may be of any size, type, or tenure, consistent with this title and as approved consistent with the ministerial or discretionary requirements of this title for the units to be built. Replacement units shall be located within the same subarea as the units removed, but need not be located on the same site as previously existed.
B. Development projects shall meet the following standards, subject to the approval of the director:
1. Vacation of Unit. Each tenant shall have the right to remain no fewer than sixty days from the date of city approval of a development project application. The director or council may grant an extension to this right to remain for a period of time not to exceed an additional thirty days.
2. No Increase in Rent. A tenant’s rent shall not be increased during the period provided in subsection (B)(1) of this section.
3. Affordability of Units. The development project shall include dwelling units affordable to low- and moderate-income persons, at rents or sales prices that meet the city’s affordable housing standards. The number of dwellings to be rented or sold at affordable levels shall equal the maximum number of affordable dwellings that existed within the twenty-four-month period immediately prior to the application for the conversion permit, but in no case less than that required under the inclusionary housing affordable housing requirement in the general plan housing element.
4. Tenant Relocation Assistance. For very low-, low-, or moderate-income residents displaced by the development project, the developer shall provide relocation assistance, subject to the approval of the director. Such assistance may include, but is not limited to, giving tenants the first right of refusal to purchase or rent affordable replacement units, reimbursement of moving costs, and/or providing rental assistance. (Ord. 1650 § 3 (Exh. B), 2018)