Portland City Code ch. 14

Citation: Portland City Code ch. 14 18.
Parent Document: Portland City Code ch. 14
Jurisdiction: Portland (municipal)
Original Source: https://www.portlandmaine.gov/asset/ae8cabd1-66eb-4a1c-9224-92bbca5e792f ↗
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18.1.8 Contribution to the Housing Trust Fund             18.1.9 Performance guarantee
A.   The applicant may meet the requirements of           Owners or affiliates must post a performance
     this housing replacement ordinance by                guarantee in the form of a letter of credit, or other
     depositing $50,000 for each dwelling unit into       security acceptable to the City attorney, in the
     the City’s Housing Trust Fund.                       amount equivalent to the amount the applicant
B.   Beginning on January 1, 2004 and annually            would have been required to contribute to the
     thereafter, the amount of the contribution shall     City’s Housing Trust Fund if the applicant had
     be adjusted by multiplying this amount               chosen that option pursuant to Subsection 18.1.8.
     originally deposited for each unit by a fraction,    Such a performance guarantee shall be valid for no
     the denominator of which shall be the                more than three years, after which the full amount
     “Consumer Price Index for Urban Wage Earners         due shall be provided to the City’s Housing Trust
     and Clerical Workers (“CPI-W”),” U.S. City           Fund if replacement units satisfying the conditions
     Average, “All Items Index,” as published by the      of this housing replacement ordinance do not have
     United States Bureau of Labor Statistics (“the       certificates of occupancy.
     index”) for January 1, 2003 year, and the
     numerator of which shall be the index for the        18.1.10 Partial waiver of replacement
     same month in each subsequent year. In the                requirements
     event that the index is not then in existence,       A.   Any owner who has applied for site plan review
     the parties shall use such equivalent price index         for elimination or conversion to nonresidential
     as is published by any successor governmental             use of dwelling units may apply to the Zoning
     agency then in existence, or, if none, then by            Board of Appeals for a partial waiver from the
     such nongovernmental agency as may then be                housing replacement requirements of this
     publishing an equivalent price index, in lieu of          section. Such waiver may be a downward
     and adjusted to the index. If the index shall             adjustment of up to 50% of the owner’s
     cease to use 1982-84 equals 100 as the basis of           housing replacement obligation if the owner
     calculation, or if a substantial change is made in        establishes to the board’s satisfaction that:
     the terms or number of items contained in the             1.   The proposed development is consistent
     index, the base index shall be adjusted to                     with the Comprehensive Plan.
     conform to such change, using such                        2.   The proposed development provides
     computation thereof, if available, as shall be                 significant value and benefit to the
     employed by the United States Department of                    immediate and surrounding neighborhood,
     Labor in computing same. Notwithstanding                       including, but not limited to, community
     anything herein to the contrary, contributions                 enhancement, social benefits or job
     made after January 1, 2004 shall not be less                   creation.
     than the amount originally required to be                 3.   The applicant demonstrates with objective
     deposited for each rooming or dwelling unit.                   evidence that the imposition of the
                                                                    requirements of this section would impose
                                                                    such an economic burden upon the CITY OF PORTLAND LAND USE CODE | 18-3 HOUSING
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