§ 4.54.200. Purpose and background of program; definitions.

This Article IV provides for an Affordable Housing Program, consisting of projects, programs and financing mechanisms to expend the designated $100 million of affordable housing bond funds included as part of a measure authorizing a City general obligation bond on the November 2016 ballot (Bond Measure KK) (the "affordable housing bond funds").

This Affordable Housing Program prioritizes strategies, programs and projects to help long-term Oakland residents and their families avoid displacement. It helps preserve Oakland's diverse communities and addresses the destabilizing displacement effects resulting from substantial rent increases, family incomes not keeping pace with housing costs, and housing supply not meeting current and projected demand. Additionally, it prioritizes strategies that increase the supply of affordable housing for those households most vulnerable to displacement, including extremely low income renters, and limited income seniors, veterans, and people with disabilities.

Alameda County voters will consider a $580 million general obligation bond measure for housing (Alameda County Affordable Housing Bond, Bond Measure Al) on the November 2016 ballot (the "County housing bond" or the "County bond"). If passed, the County bond will provide an estimated $89 million for construction of new affordable housing and other eligible uses in Oakland. Oakland's affordable housing bond authorization has been designed to complement the County's housing bond by prioritizing resources for protecting vulnerable Oaklanders from being displaced from their current homes, while the County bond authorization focuses on financing new affordable housing construction.

Unless the context otherwise requires, the following definitions shall govern the construction of the City's Affordable Housing Program as provided in Article IV herein.

"Affordable housing" means housing that is provided at an affordable rent or affordable housing cost to certain income groups as described in this Program. The terms "affordable rent" and "affordable housing cost" shall be as defined in California Health and Safety Code Sections 50053 and 50052.5 and their implementing regulations.

"Extremely low income household" shall be as defined in California Health and Safety Code Section 50106 and its implementing regulations.

"Lower income household" shall be as defined in California Health and Safety Code Section 50079.5 and its implementing regulations.

"Moderate income household" means persons and families of low or moderate income as defined in California Health and Safety Code Section 50093 and its implementing regulations.

"Very low income household" shall be as defined in California Health and Safety Code Section 50105 and its implementing regulations.

(Ord. No. 13403, § 2, 11-29-2016)