A. Properties that in the future request and receive a City subsidy from
PDC or other City bureau or agency for the purpose of creating or preserving
rental housing affordable to households below 80% of median family income, will
be subject to a minimum of 60 year affordability contract requirements developed
by PDC consistent with the implementing charge in 30.01.090 B.
B. All City Bureaus and agencies administering affordable rental
housing subsidy programs will be responsible for implementing this section. As
the primary agency charged by the City to negotiate and confer affordable
housing subsidies, PDC will develop implementing strategies consistent with the
60 year affordability principles contained in this section, the Administrative
Procedures Implementing Title 30.01 and the approved 1998/99 Consolidated Plan,
Principle III (Ordinance No. 172259).