A building permit for a qualified housing development shall only be issued if and when the applicant, or its designee, enters into an affordable housing agreement and, if applicable, an equity sharing agreement, with the City or its designee pursuant to, in compliance with, and to implement this section and State law. The agreements shall be in the form approved by the City which shall contain terms and conditions mandated by, or necessary to implement, State law and this article. The Director may designate a qualified administrator or entity to administer the provisions of this section on behalf of the City. The affordable housing agreement shall be recorded prior to, or concurrently with, final map recordation or, where the qualified housing development does not include a map, prior to issuance of a building permit for any structure on the site. The Director is hereby authorized to enter into the agreements authorized by this section on behalf of the City upon approval of the agreements by City Attorney for legal form and sufficiency.
(
Ord. 3282-24 c.s., eff. December 12, 2024)