Bloomington, Minn., Code of Ordinances § 9 § 9.37

(a) The Community Development Department may promulgate rules, policies, and guidelines as necessary to implement this chapter and such rules, policies, and guidelines must be approved by the city council. On an annual basis, the Community Development Department will publish or otherwise make available the U.S. Department of Housing and Urban Development household income limits and rental limits applicable to affordable units within the city and determine an inflation factor to establish a resale price of an opportunity housing unit.


(b) The affordable housing development agreement must compel the applicant or applicant’s agent responsible for managing opportunity housing units in a rental development to submit an annual report to the Community Development Department by February 1 for the previous calendar year that includes the following information for each development site:


(1) A list of all opportunity housing units;


(2) Vacancy information;


(3) The monthly rent for each opportunity housing unit;


(4) Monthly income for tenants of each opportunity housing unit;


(5) Information sufficient to determine whether tenants of rented units qualify as extremely low, very low, low or moderate-income households; and


(6) Any other information as required by the city, while ensuring tenant privacy rights.


(c) For all sales of for-sale opportunity housing units, the parties to the conveyance must execute and record such documentation as required by the affordable housing development agreement. Such documentation must include the applicable provisions of this chapter and provide, at a minimum, each of the following:


(1) The opportunity housing unit must only be sold to and occupied by eligible households for the first 20 years from the date of the initial certificate of occupancy; and


(2) The opportunity housing unit must be conveyed subject to restrictions that maintain the affordability of such opportunity housing units for eligible households.


(d) In the case of rented opportunity housing units, the owner of the housing development must execute and record such documentation as required by the affordable housing development agreement. Such documentation must include the applicable provisions of this chapter and provide, at a minimum, each of the following:


(1) The opportunity housing units must be leased to and occupied by eligible households;


(2) The opportunity housing units must be leased at rent levels affordable to eligible households for a period of 20 years from the date of the initial certificate of occupancy; and


(3) Subleasing of opportunity housing units is not permitted without the express written consent of the Community Development Department.


(Ord. 2019-16 , passed 2-25-2019)