§ 4.20.220. Exemption for low and moderate income homebuyers incurring seismic retrofit or solar energy system expenses.

Up to one-third (⅓) of the tax imposed by this Chapter shall be reduced, on a dollar for dollar basis, for all expenses incurred by low and moderate income homebuyers on or after July 1, 2018 to "seismically retrofit" or "install a solar energy system," or any combination of the two (2), for any structure which is used exclusively for residential purposes and the transfer of which is triggering the tax, subject to the following:

A.

For purposes of this Section, "low and moderate income homebuyers" are defined as buyers who meet the requirements of Section 4.20.080 A., B., and D.

B.

The term "seismically retrofit" in this Chapter means any of the following:

1.

Strengthening in compliance with Appendix Chapter A3 of the latest edition of the California Existing Building Code;

2.

Bracing, anchoring, and/or strapping of water heater tanks in compliance with the California Plumbing Code or with standards adopted or approved by the Building Official;

3.

Removal and/or replacement of masonry chimneys in accordance with FEMA P-1024-RA1 or substantially similar standards adopted or approved by the Building Official;

4.

Strengthening or risk reduction in unreinforced masonry bearing wall buildings in substantial compliance with Oakland Municipal Code Chapter 15.28, for buildings not already required to comply with that Chapter;

5.

Strengthening, stiffening, or other damage reduction measures deemed by the Building Official to comply with the intent of reduced seismic forces as defined by the California Existing Building Code.

C.

The term "install a solar energy system" in this Chapter means the installation of an "active solar energy system," as defined by California Revenue and Taxation Code Section 73(b).

D.

From the date of the recordation of the transfer document, the applicant shall have one (1) year to complete all seismic retrofit and solar energy system work, if not already completed prior to the transfer of the property, and submit a seismic retrofit verification application, solar energy system verification application, or both to the Building Inspections Division of the City of Oakland. Upon completion of such work and certification by the Building Bureau as to the amount of the expenses of such work, the City Administrator or his/her designee shall refund such expenses not to exceed one-third (⅓) of the tax imposed on and paid by the buyer.

E.

The people of Oakland authorize that the City Council may establish rules that are necessary and desirable for implementation of Section 4.20.220 and may amend any aspect of this Section as long as such amendment does not result in an increase in the authorized tax rate.

(Res. No. 87320, § 2, 7-24-2018)