This chapter 18.70 of the Golden Municipal Code is intended to implement people's Ordinance No. 95-01, enacted on November 7, 1995, which places limits on certain residential growth in the City of Golden to a maximum of a one-percent increase in dwelling units per year.

Building permits shall be allocated in accordance with the provisions of this chapter such that those issued shall result in no more than a one-percent annual increase in the number of affected dwelling units and dwelling unit equivalents.

(Ord. No. 2203, § 2, 5-14-2023; Ord. 1691, § 1, 2005; Ord. 1314, 1996)

(1)

The provisions of this chapter shall apply to the issuance of building permits for all new dwelling units and structures containing congregate living uses within the City of Golden except:

(a)

Structures located, or to be located, upon land owned by the Colorado School of Mines, which are used to house only Colorado School of Mines students, staff, or faculty.

(b)

Expansion or remodeling of residential property, if the expansion or remodeling does not increase the number of dwelling units or the number of bedrooms in a congregate living use.

(c)

Industrial or commercial construction, unless such industrial or commercial construction includes dwelling units or congregate living uses.

(d)

Residential development projects excluded by regular or special election in accordance with subsection 18.70.020(2).

(e)

Residential development projects granted a reapportionment by city council ordinance as set forth in subsection 18.70.020(3).

(2)

A residential development project may be specifically excluded from meeting the requirements of this chapter, if the electors of the City of Golden, through the petition process, adopt an ordinance enacting such an exclusion at a regular or special election. Such election shall be held according to the applicable provisions of the Golden City Charter, with any expenses covered by the party requesting the exclusion.

(3)

City council may approve an ordinance granting a reapportionment of available annual allocations or future allocations, and upon such conditions as it may prescribe, to a qualifying residential development project sufficient for use and issuance of building permits in the calendar year in which such request was made, or in future years as determined by the conditions of the ordinance. City council's action shall occur following public hearing and recommendation by planning commission. Planning commission's hearing and recommendation, and city council's hearing and decision on the requested reapportionment, shall follow the hearing and notice procedures in chapter 18.48.

(a)

City council will grant such reapportionment upon a finding that all of the following criteria, as may be applicable, are met:

1.

That the residential development project requesting reapportionment is:

i.

A multifamily "affordable dwelling unit" project, which is and will remain housing for income qualified individuals as further defined in section 18.04.020; or

ii.

A multifamily or mixed-use project located within 2,500 feet of a designated light rail station ("transit-oriented project").

2.

That the project demonstrates compliance with Golden Vision Values, the comprehensive plan and any applicable neighborhood plan.

3.

That the project complies with applicable design standards contained in chapters 18.29 and 18.40 of the Golden Municipal Code and the policies of the city's comprehensive plan, as demonstrated by a conceptual site plan to be submitted in connection with the requested reapportionment.

4.

That granting reapportionment for a transit-oriented project or a multifamily affordable dwelling unit project would not result in the assignment of more than ⅓ of allocations available for issuance and use during any given calendar year.

5.

That granting reapportionment for a transit-oriented project or multifamily affordable dwelling unit project would not preclude city council from assigning a sufficient number of allocations in its annual distribution resolution to satisfy another transit-oriented project or multifamily affordable dwelling unit project previously granted a reapportionment under this subsection 18.70.020(3).

(b)

For any transit-oriented project or multifamily affordable dwelling unit project, the ordinance approving the reapportionment shall provide that all dwellings in the project will secure a sufficient number of allocations either prior to the issuance of building permit or within the following four calendar years through a specific assignment or distribution in city council's annual distribution resolution as provided in section 18.70.060, or by use of surplus allocations in the year end pool.

(c)

A senior housing project developed without having to secure all required allocations based upon the provisions of this chapter in effect prior to December 31, 2014 shall not be converted to another residential use without first having secured an allocation for each dwelling to be so converted, according to the provisions of this chapter.

(d)

In approving an ordinance under subsection 18.70.020(3) for either a transit-oriented project or an affordable dwelling unit project, city council shall have the authority to reapportion available annual allocations on a per unit basis within a residential, mixed use or mixed income development.

(Ord. No. 2203, § 3, 5-14-2023; Ord. No. 2088, § 1, 10-11-2018; Ord. 1945, § 1, 2013; Ord. 1360, 1997; Ord. 1314, 1996)

The following terms are defined for purposes of this chapter.

Allocation. "Allocation" means a right, granted by the city pursuant to this chapter, to make application for a building permit to build one dwelling unit or dwelling unit equivalent. An allocation is not a guarantee of receiving approval for a building permit. Approval of the building permit itself will occur through the established building permit review process.

Allocation pools. "Allocation pools" mean separate categories of developments as described in this chapter which are created for the purpose of distributing available allocations.

Approval date. "Approval date" means the date at which the developer secured all necessary land use approvals from the city as would allow complete development of the property with the exception of any of the following: administrative approvals of final site plans, planning commission approvals of final site plans if required by a PUD, construction plans, building permits, and final subdivision plats in the case where there had been prior approval of a preliminary plat, which preliminary plat approval had not expired as of January 1, 1996.

Area median income. "Area median income" (AMI) means the median annual household income for Jefferson County, as adjusted by household size, and published annually by the United States Department of Housing and Urban Development.

Building permit. "Building permit" means a permit issued pursuant to the provisions of chapter 15.08 (uniform building code) of the Golden Municipal Code.

Congregate living use. "Congregate living use" means a structure or structures providing living, sleeping, kitchen, and sanitary facilities for persons who do not jointly occupy the entirety of a dwelling unit or who jointly occupy the entirety of a dwelling unit but who exceed the maximum number of adults permitted in a "household" as defined in section 18.04.020. A congregate living use may occur within a dwelling unit. A congregate living use may also occur within a structure or multiple structures where not all portions of the structure or not all structures contain living, sleeping, kitchen, and sanitary facilities, but the structure as a whole or all structures comprising such use together provide residents with living, sleeping, kitchen, and sanitary facilities. This use includes individuals or groups of persons who have separate contracts or agreements with property owners. Tenancy of a congregate living use shall be for 30 consecutive days or more. Residents of a congregate living use may share bedrooms (sleeping units) and may have shared living, kitchen, and sanitary facilities, or may have some combination of private and shared facilities. This use includes, but is not limited to, boarding and rooming houses, dormitories for students, faculty, or staff of a primary education, secondary education, college/university, or seminary use, fraternity and sorority houses, and other rent-by-the-room configurations. This use does not include residential care-type uses (i.e., uses where occupants receive treatment, supervision, emergency shelter, personal care, protective oversight, or other similar care or services from staff on-site) such as, without limitation, convalescent and nursing homes, hospices, and community correction facilities. This use also does not include hotels, motels, tourist homes, or other lodging uses.

Development. "Development" means the entire plan to construct or place one or more dwelling units or dwelling unit equivalents on a particular parcel or contiguous parcels of land within the city including, but not limited to, a subdivision approval, a planned unit development, and a mobile home park.

Dwelling unit. "Dwelling unit" has the same meaning as defined in section 18.04.020 of the Golden Municipal Code. "Dwelling unit" includes "mobile homes" as defined by Golden Municipal Code section 18.04.020.

Dwelling unit equivalent. "Dwelling unit equivalent" means three bedrooms in a congregate living use.

Excess allocations. "Excess allocations" means allocations which are available for issuance from a particular allocation pool and period, but which have not been issued by reason of lack of demand.

Good cause. "Good cause", when used as a basis for relief from timely compliance with specifically referenced provisions of this chapter, means the existence of unanticipated circumstances which are beyond the control of the property owner and which prevented timely compliance with the referenced provisions of this chapter. "Good cause" shall not include delays which are reasonably expected in the development process, including, but not limited to, preparation of plans or a securing of financing. The existence of "good cause", and availability of relief by reason thereof, shall be determined after a public hearing conducted by the planning commission. A party aggrieved by the decision of the planning commission on such issue may, within 15 days of the date of the decision thereon by the planning commission, apply to the city council for a review of said decision by filing a request for review with the city clerk. The city council shall, within 30 days of receipt of the review request, and based upon the record alone as certified to council by the planning commission, decide to uphold, deny, or modify the decision of the planning commission.

Lottery. "Lottery" shall mean a drawing held by the city to select applicants which will receive an allocation through a process based upon random chance. Each applicant in a lottery shall be treated equally regardless of the number of allocation requests.

Pro-rata. "Pro-rata" means the issuing of allocations to applicants in the same proportion that the total number of available allocations bears to the total number of requested allocations, as modified and elaborated in this chapter. For example, if applications for twice the number of allocations were received than the number available, each applicant would be granted approximately one-half the number requested.

Set-up. "Set-up", when used in connection with mobile homes, means the process of setting up a mobile home for the purpose of occupancy as a residence including by way of example, connection to utilities and installation tie-downs.

Unused allocation. "Unused allocation" means an allocation which has been issued but for which a building permit has not been issued or a mobile home set-up, as applicable, during the period for which the allocation is valid.

(Ord. No. 2203, §§ 4—8, 5-14-2023; Ord. 1839, § 1, 2009; Ord. 1314, 1996)

Planning commission and city council may adopt rules as necessary to administer this chapter.

(Ord. No. 2203, § 9, 5-14-2023; Ord. 1314, 1996)

(1)

Allocation required for a building permit.

(a)

Except as otherwise provided in this chapter, an allocation is required as a condition precedent to the issuance of a building permit which will result in the creation of a new dwelling unit. For structures containing more than one dwelling unit, one allocation for each dwelling unit in the structure is required as a condition precedent to issuance of a building permit for such structure. A dwelling unit may be replaced with another dwelling unit without obtaining an allocation, provided that the replacement unit is located on the same parcel, tract, or lot, and a building permit to replace the dwelling unit is obtained within 12 months. The planning commission may, at their discretion, extend this period of time an additional 12 months upon request of the applicant and a finding of good cause.

(b)

Except as otherwise provided in this chapter, for a congregate living use, one allocation shall be required for each dwelling unit equivalent as a condition precedent to the issuance of a building permit for a structure containing such use; provided, however, if the total number of bedrooms in a congregate living use is not divisible by three, the number of allocations required for the congregate living use shall equal the total number of bedrooms divided by three and rounded up to the nearest whole number.

A dwelling unit may be replaced with another dwelling unit without obtaining an allocation, provided that the replacement unit is located on the same parcel, tract, or lot, and a building permit to replace the dwelling unit is obtained within 12 months. The planning commission may, at their discretion, extend this period of time an additional 12 months upon request of the applicant and a finding of good cause.

(2)

[Allocation required; exception.] Except as otherwise provided in this chapter, an allocation is required as a condition precedent to the set-up and use of a mobile home. Mobile homes in operating mobile home parks may be removed and replaced with another mobile home without obtaining an allocation.

(3)

Period of validity. Allocations are only valid and can be used from the date of issue through the last day of the allocation period for which they are issued, at which time they expire, unless a part of an approved banking plan.

(4)

Use of allocations. An allocation is used by applying for and being issued a building permit or setting up a mobile home, as applicable. Unused allocations are those for which a building permit has not been issued, or a mobile home not set up, during the period for which the allocation is valid.

(5)

Building permit approvals. All building permit applications which require an allocation for issuance will be reviewed within 20 working days after submission of a complete building permit application. At the end of the building permit review period, either a building permit will be made available for issuance or reasons will be given to the applicant why the permit cannot be issued, in which case the applicant has five working days in which to submit all required corrections.

(6)

Surrender of allocations. Allocations which a recipient does not expect to use during the period for which they are valid may be voluntarily surrendered without penalty at any time up until 30 days prior to the end of that allocation period. Allocations which are surrendered at least 30 days prior to the expiration of the allocation period shall be added to the number of available allocations for the next allocation period in the same calendar year for the same allocation pool, or to the year-end pool, as appropriate. Allocations in the year end pool may not be surrendered. Expiration of an allocation from the year-end pool shall be subject to the normal penalty applicable to other non-surrendered allocations.

(7)

Transferability. Allocations are site specific and not transferable to other developments. Allocations are issued to a specific building lot, and may only be transferred within a development to other lots which are under the same ownership as the holder of the allocation. Allocations may be transferred with the conveyance of a lot.

(Ord. No. 2203, § 10, 5-14-2023; Ord. 1691, § 2, 2005; Ord. 1314, 1996)

(1)

In January of each year the city council shall determine by resolution the number of allocations which will be available for issuance and use during that year. The annual resolution shall assign a sufficient number of allocations directly for satisfaction of a previous reapportionment request granted to a transit-oriented project or affordable dwelling unit project by city council under subsection 18.70.020(3), and for a project(s) whose banking plan(s) included a planning commission recommendation for commitment of future allocations, if city council approves such commitment. The resolution shall then assign those remaining available allocations to the "open pool", "moderate income housing pool", and "hardship pool", and determine the number of allocations within each such pool as will be available for the respective allocation periods.

(2)

The total number of allocations available for issuance and use during each calendar year shall be equal to one percent of the number of dwelling units and dwelling unit equivalents which are estimated to exist in the city on December 31 of the prior calendar year, except that for the six-year period from 2015 through 2020, the overall number of allocations made available in aggregate shall be reduced such that the total number of allocations utilized during said six-year period shall not exceed an annual average increase of nine-tenths percent, with an appropriate final adjustment, if necessary, being made to the annual resolution for calendar year 2020.

(a)

The number of dwelling units and dwelling unit equivalents which exist in the city on December 31 of the prior year shall be estimated as follows:

1.

Begin with the number of dwelling units and dwelling unit equivalents in the city which existed at the beginning of the previous calendar year.

2.

Add the number of new dwelling units and dwelling unit equivalents for which building permits were issued during the previous calendar year which required an allocation for issuance.

3.

Add the number of allocations secured by, or assigned to, previously exempted projects or dwellings during the previous calendar year.

4.

Add the number of dwelling units and dwelling unit equivalents added to the city by reason of annexations during the previous calendar year.

5.

Subtract the number of dwelling units and dwelling unit equivalents which were destroyed (and not replaced within 12 months), abandoned or otherwise ceased to be used as such during the prior calendar year.

6.

Subtract the number of dwelling units and dwelling unit equivalents for which building permits had previously been issued, but which expired in the previous year without issuance of a certificate of occupancy.

(3)

If the calculation of available allocations results in a partial number, the number shall be rounded down to establish the available allocations.

(Ord. No. 2203, § 11, 5-14-2023; Ord. No. 2088, § 2, 10-11-2018; Ord. 1945, § 2, 2013; Ord. 1839, § 2, 2009; Ord. 1691, § 3, 2005; Ord. 1314, 1996)

For the purpose of administration of this chapter, city council hereby creates the following described allocation pools:

(1)

Open pool. The open pool is created for all developments within the city that do not otherwise qualify to request allocations.

(2)

Hardship pool. The hardship pool is created for distribution of allocations by city council upon a finding that a hardship or unusual circumstance exists which merits relief. All developments otherwise eligible to apply for allocation in general may participate in the hardship pool. Allocations are awarded as requests are granted by city council, and not as of a specified allocation date.

(3)

Moderate income housing pool. The moderate income housing pool is created for distribution of allocations for residential projects creating dwelling units for households earning up to 120 percent of area median income. Administrative provisions for the moderate income housing pool are contained in section 18.70.100.

(4)

Year-end pool. The year-end pool is created for the purpose of distributing unused and excess allocations which are available as of November 1 of each calendar year. All developments otherwise eligible to apply for allocation in general may participate in the year-end pool.

(Ord. 1839, § 3, 2009; Ord. 1691, § 1, 2005; Ord. 1314, 1996)

(1)

For all calendar years, the open pool will have two allocation periods which occur from January 1 through May 31, and from June 1 through October 31.

(2)

For all calendar years, the hardship pool will have an allocation period from January 1 to October 31.

(3)

For all calendar years, the moderate income housing pool will have one allocation period from January 1 through May 31. Excess allocations in the pool at the conclusion of the allocation period will be transferred to the open pool for the allocation period beginning on June 1.

(4)

The year-end pool allocation period will occur from November 1 through December 31.

(Ord. 1839, § 4, 2009; Ord. 1691, § 3, 2005; Ord. 1314, 1996)

(1)

Applications for allocations shall be on a form provided by the city. A separate application submitted by the property owner is required for each allocation period. Except as provided otherwise, complete applications must be submitted to the city at least seven calendar days prior to the beginning of the allocation period for which the application is made. Applications may not be submitted more than 210 days before the beginning of the applicable allocation period. Applications for excess allocations may be made at any time that excess allocations are available, but prior to the last 30 calendar days of any allocation period.

(2)

Eligibility. To apply for allocations, a development must have completed all steps otherwise necessary to apply for and receive a building permit including the requisite zoning and subdivision approval, but not including the preparation of building construction plans. Site development review, if necessary, need not be complete prior to applying for allocations, although a pre-submittal conference and review of the site plan by staff must be completed, with an indication that approval of the concept may be achieved.

(3)

For developments with an approval date after January 1, 1992, allocation requests within a development under common ownership shall be combined and treated as a single application. Lots in such developments which are held in separate ownership shall be treated as separate applications.

(4)

For developments with approval dates prior to January 1, 1992, each lot will be allowed to apply for allocations separately, even if under the same ownership.

(5)

No applicant shall request allocations in excess of the lesser of: The available number of allocations in the appropriate pool in that allocation period, or the available number of lots or units in the subject development.

(Ord. 1691, § 3, 2005; Ord. 1314, 1996)

(1)

Open pool. For each respective allocation period in the open pool, one allocation will automatically be issued to each applicant if sufficient allocations are available. The remainder of requests is then tallied, and available allocations are distributed on a pro-rata basis to applicants based upon their requested number.

(2)

Hardship pool. Hardship pool allocations are distributed by the city council at their discretion following request from an applicant, and subject to a finding that all of the following conditions exist:

(a)

That the issuance of an allocation is necessary to prevent undue hardship on the applicant; and

(b)

That the issuance of a allocation will not adversely affect the public interest or the purposes of this chapter; and

(c)

Allocations are available in the hardship pool; and

(d)

That the requested allocation and the resulting building permit would be proper and in accordance with all of the ordinances and regulations of the City of Golden, excepting the provisions of this chapter.

(3)

Moderate income housing pool. Allocations assigned to the moderate income housing pool shall only be available for use by qualifying projects in the initial allocation period of each year. Any excess allocations in the moderate income housing pool at the end of the initial allocation period of the year will be transferred to the open pool for distribution pursuant to subsection (1) above.

(a)

In addition to the application requirements contained in section 18.70.090, applications for allocations from the moderate income housing pool will contain documentation in a form acceptable to the city attorney of the provisions that will be put in place to assure that rental units created by moderate income housing pool allocations will remain available to households making up to 120 percent of area median income for a period of at least 15 years after completion of construction, or assurances that the initial sale of the dwelling units created by the moderate income housing pool allocations will be by a bona fide, "arms length sale" to individual households making no more than 120 percent of area median income, and at an initial sales price that is reasonably calculated to allow an otherwise qualified buyer to obtain a loan for the purchase of the dwelling unit with a down payment of no more than 20 percent of the sale price.

(b)

If the number of moderate income housing pool allocations requested does not exceed the number assigned by city council pursuant to section 18.70.060, the allocations will be distributed in the same manner as the open pool. However, if the number of allocations requested exceeds the number of allocations available in the moderate income housing pool, the applications will be presented to director of community and economic development for review. The director of community and economic development will award the moderate income housing pool allocations to those proposed dwelling units serving the households with the lowest area median income. In such circumstances, no building permit shall be issued based upon any preference pool allocations until 16 days after the director has issued his/her decision. Any aggrieved party may appeal the director's decision following the appeal process and procedure set forth in chapter 18.12 of the Golden Municipal Code. All applicants shall be promptly notified by U.S. mail of such appeal and shall be entitled to participate in the appeal. If an appeal is timely filed, no building permit shall be issued based upon preference pool allocations until city council takes final action on the appeal. Applicants for allocations from the moderate income housing pool may amend the application submitted pursuant to subsection 18.70.090(1) to change from the moderate income housing pool to the open pool, at any time prior to the beginning of the allocation period.

(4)

Year-end pool. All unused open pool and hardship pool allocations which remain on November 1 of each year will be available in the year-end allocation pool. One allocation will automatically be issued to each applicant if sufficient allocations are available. The remainder of requests is then tallied, and available allocations are distributed on a pro rata basis to applicants based upon their requested number. Allocations which are unclaimed during the year-end pool or which are due to expire will be automatically be assigned to the city council administered affordable housing banking plan, or if such banking plan is full, by lottery to valid banking plans at 5:00 p.m. on the last business day of the year. Acquisition of the final remaining allocation by a banking plan for a specific project during the year-end pool shall trigger the expiration of the banking plan at the end of the first allocation period in the following year.

(5)

[Insufficient allocations.] Except as noted in subsection (3)(b) above, if there are insufficient allocations available to issue at least one allocation to each applicant for a particular allocation period due to demand, a lottery shall be held to determine the recipients of the allocations. Those applicants who are unable to obtain an allocation during that particular allocation period will be given first preference to receive an allocation in the following allocation period in the same pool if a timely application is filed.

(6)

The use of rounding in the calculation of pro rata shares may result in available allocations which have not been issued. Those allocations shall be issued by means of a lottery.

(7)

Following the issuance of allocations, staff shall present a report to planning commission and city council summarizing the results of the allocation period.

(Ord. No. 2203, § 12, 5-14-2023; Ord. 1839, § 5, 2009; Ord. 1691, § 3, 2005; Ord. 1314, 1996)

Notwithstanding any other provisions of this chapter, the period of validity of an allocation may be extended through, and the allocation may be used in subsequent allocation periods upon approval by the city as provided in this section. The process of extending the period of validity of allocations in this section is referenced as "banking of allocations".

(1)

Banking of allocations will be permitted in the following circumstances only:

(a)

The director of community and economic development shall approve an application for banking of allocations for multifamily or congregate living use projects if the number of dwelling units or dwelling unit equivalents (as applicable) to be banked corresponds to that found in an entire building or buildings in the project, and if the allocations are proposed to be used within the same calendar year as the initial award of allocation.

(b)

The planning commission may approve a banking plan for multifamily or congregate living use projects for the purpose of banking beyond the end of a calendar year, upon a finding that building configuration, site constraints, or infrastructure phasing reasonably require that a larger increment of the development be built at one time.

(c)

The planning commission may approve a banking plan for single household residential projects upon a finding that building configuration, site constraints, or infrastructure phasing reasonably require that a larger increment of the development be built at one time.

(2)

Application for banking of allocations shall be made at or before the time of the allocation application. The application shall set forth a banking plan which includes the total number of dwelling units or dwelling unit equivalents (as applicable) in the project, the number of allocations sought to be banked, the time period during which the validity of allocations is proposed for extension, and the reason therefore.

(3)

For applications submitted under subsection (1)(b) of this section, the planning commission shall determine at a hearing upon reasonable notice to the public, as provided in sections 18.48.030 and 18.48.040, whether or not banking, as requested, is appropriate as provided in this section.

(4)

A nonrefundable fee shall be assessed in conjunction with each approved multiyear banking plan to cover the cost of the city administering banking plans. The fee shall be set by city council by resolution and shall be based upon the number of dwelling units or dwelling unit equivalents in the approved banking plan. The fee shall be payable on a pro rata (per unit) basis at the time of distribution of allocations to the banking plan. Failure to pay any installment of the fee within 30 days of distribution of allocations to the banking plan shall cause a forfeiture of such allocations.

(5)

A party aggrieved by the decision of the planning commission or the director of community and economic development with respect to an application to bank allocations may appeal the decision to city council following the same procedure outlined in subsection 18.70.030(8).

(6)

Requests for banking of allocations beyond the end of the calendar year of the application shall be subject to the following conditions:

(a)

The maximum number of years in which allocations may be acquired pursuant to any banking plan of allocations shall be five. All allocations acquired within the banking period must be used during this time period.

(b)

The maximum number of allocations which may be in the bank at any one time during the banking program shall not exceed the total number of allocations available in the city in the first year of approval of said banking.

(c)

Banking plans will be approved only for a number of dwelling units or dwelling unit equivalents which correspond to that found in an entire building or buildings in the project.

(d)

Subject to city council's annual distribution of allocations pursuant to section 18.70.060 of this chapter, planning commission may recommend a commitment of future allocations to an approved banking plan project. Such commitment shall not bind city council's action but shall serve to be an indication of support for a specific project.

(7)

Surrendered or forfeited allocations distributed to an approved banking plan from calendar years prior to the year during which they are surrendered or forfeited shall be deemed to have expired and shall not be available for distribution. Surrendered or forfeited allocations distributed to an approved banking plan in the same calendar year in which they are surrendered or forfeited shall be made available for redistribution in accordance with the applicable provisions of the ordinance codified in this section.

(8)

The planning commission, may, upon a show of good cause, approve an extension of up to one year to an existing banking plan, to allow use of the banked allocations. The holder of the allocations may not acquire further allocations during the period of such extension.

(9)

For the purpose of defining the total number of available allocations as described in subsection 18.70.060(2), the total number of dwelling units and dwelling unit equivalents in the city shall not include banked allocations which have not received building permits.

(10)

An applicant banking allocations within the same calendar year, according to the conditions of subsection 18.70.110(1)(a), shall notify the director of community and economic development in writing within ten days after the allocations are granted of the number of allocations being banked and the reasons therefore.

(11)

The annual reports to planning commission and city council pertaining to the administration of this chapter 18.70 shall include information regarding the number of banked allocations approved in the current year, used in the current year, and the total number of banked allocations by individual project.

(12)

Approval of a "banking plan" shall not constitute a "vested right" to develop the project under C.R.S. § 24-68-101, or otherwise.

(Ord. No. 2203, § 13, 5-14-2023; Ord. 1945, § 3, 2013; Ord. 1338, 1997; Ord. 1314, 1996)

(1)

Excess allocations in the open pools will be issued to eligible applicants on a first-come first-served basis for the remainder of the allocation period within the respective allocation pools.

(2)

Excess allocations which have not been issued at the end of the allocation period and unused allocations will be added to the available number of allocations for the next allocation period in the same calendar year for the same pool, or to the year end pool, as appropriate.

(Ord. 1691, § 4, 2005; Ord. 1314, 1996)

(1)

Failure to use an allocation which is not part of an approved banking plan during the period for which it is issued, without surrendering it at least 30 days prior to the expiration of the allocation period for which it has been issued, shall cause the holder of such allocation to be ineligible to receive allocations for a period of one year from the last day that the unused allocation is valid. This penalty may be waived by the planning commission for good cause.

(2)

Failure to use an allocation which is part of an approved banking plan during the period of the banking plan, without surrendering it at least 60 days prior to the expiration of the period of the banking plan, shall cause the holder of such allocation to be ineligible to receive allocations for a period of two years from the last day that the unused allocation is valid. This penalty may be waived by the planning commission for good cause.

(3)

Use of an dwelling unit constructed by reason of an allocation from the moderate income housing pool in a manner inconsistent with the affordability criteria listed in subsection 18.70.100(3)(a), or contrary to the assurances provided pursuant to such section, including, without limitation the initial sale of a dwelling unit at a price that exceeds the maximum price contemplated in such section, shall cause the holder of such allocation to be ineligible to receive further allocations for a period of three years from the date of the violation. This penalty may be waived by the planning commission for good cause.

(Ord. 1839, § 6, 2009; Ord. 1338, 1997; Ord. 1314, 1996)