§ 29.05.010. Annual report and findings.

Concurrently with the Title 29 action plan the planning director shall submit a report to the board of supervisors on the status of activities undertaken with the affordable housing fund. This report, entitled the affordable housing fund annual report, shall include a statement of income, expenses, disbursements and other uses of the affordable housing fund. The report shall describe the number of individuals assisted and the number of housing units constructed or assisted during the twelve-month period preceding the Title 29 annual report. The report shall also describe the assisted units, including the unit types (rental or ownership), targeted income levels, geographic location, the amount of assistance provided and the amount of local, state and federal funds leveraged. The report shall contain a discussion of how well the goals of the previous year's affordable housing fund annual action plan were met. The planning director shall also recommend any changes to this title, other ordinances, the San Luis Obispo County Housing Element, or other actions necessary to carry out the purposes of this title, including any adjustments necessary to the fees or fee administration.

The report shall also contain the information and findings required in Subsections (a) through (e) below.

(a)

The Title 29 Annual Report shall provide the following information for the Title 29 Affordable Housing Fund accounts:

(1)

A brief description of the type of fees in the accounts.

(2)

The amount of the fees.

(3)

The beginning and ending balance of the accounts.

(4)

The amount of the fees collected and the interest earned.

(5)

An identification of each affordable housing development project on which fees were expended and the percentage of the total project cost that was funded with Title 29 Fees.

(6)

An identification of an approximate date by which the construction of an affordable housing development project will commence or be completed if the project remains incomplete.

(7)

A description of each interfund transfer or loan made from a Title 29 account or fund, including the affordable housing development project on which the transferred or loaned fees will be expended. In the case of an interfund loan, describe the date on which the loan will be repaid, and the rate of interest that the account or fund will receive on the loan.

(8)

The amount of refunds made pursuant to subsection (d) below, along with any allocations pursuant to subsection (e) below.

(b)

Once each fiscal year the county auditor-controller-treasurer-tax collector shall report to the board of supervisors any portion of a fee within any (and all of) the accounts of the affordable housing fund that remains unexpended or uncommitted five or more years after deposit and identify the purpose for which the fee was collected.

(c)

Whenever the county auditor-controller-treasurer-tax collector identifies an unexpended or uncommitted fee, pursuant to subsection (b) above, the board of supervisors shall make the following findings each fiscal year with respect to any portion of the fee remaining unexpended or uncommitted in its account five or more years after deposit of the fee:

(1)

Identify the purpose to which the fee is to be put.

(2)

Demonstrate a reasonable relationship between the fee and the purpose for which it was charged.

(3)

Identify all sources and amounts of funding anticipated to be used to complete the financing for incomplete the affordable housing program goals and/or affordable housing development projects that are identified in Section 29.01.010.

(4)

Designate the approximate dates on which the funding referred to in subsection (c)(3) above is expected to be deposited into the appropriate account or fund.

When findings are required by this subsection, they shall be made in connection with the information required by subsection (a) above. The findings required by this subsection need only be made for moneys in possession of the county, and need not be made with respect to letters of credit, bonds, or other instruments taken to secure payment of the fee at a future date.

(d)

Except as provided below in subsection e, when sufficient funds have been collected, as determined pursuant to subsection (a)(6) above, to complete financing on incomplete affordable housing development project(s) identified in Section 29.01.010, and the affordable housing development projects remain incomplete, the county shall identify, an approximate date by which the construction of the development project(s) will commence or be completed. Otherwise, the county shall refund to the then current record owner or owners of the lots or units, as identified on the last equalized assessment roll, of the development project or projects on a prorated basis, the unexpended portion of the fee, and any interest accrued thereon. The county may refund the unexpended revenues by direct payment, by providing a temporary suspension of fees, or by any other reasonable means. The determination by the board of supervisors of the means by which those revenues are to be refunded is a legislative act.

(Ord. No. 3171, § 1, 12-9-08; Ord. No. 3384, § 1, 3-12-19)