[HISTORY: Adopted by the Board of Trustees of the Village
of Spring Valley as indicated in article histories. Amendments noted
where applicable.]
[Adopted 8-12-2008 by L.L. No. 5-2008]
The Bond of Trustees of the Village of Spring Valley recognizes
that the high cost of housing is undermining the socioeconomic diversity
that has been the core of Spring Valley's identity for decades.
A housing mix exclusively of new, higher-priced residential construction
and public housing can contribute to segregated neighborhoods, undermine
racial and ethnic diversity and impede the development of a local
middle class vital to strengthening the Village's retail economy,
service employment sector and civic spirit. The affordable housing
set-aside program, shall not conflict with, but shall be in addition
to any programs and/or prohibitions of the laws of the State of New
York relating to housing and discrimination in housing.
As used in this article, the following terms shall have the
meanings indicated:
A fee, in an amount to be determined annually by the Board
of Trustees on a per unit basis, which may be paid to the Village
of Spring Valley in lieu of the construction of an affordable housing
unit and held in a segregated fund by the Village for the purpose
of making loans, grants or other disbursements to develop affordable
housing.
A housing unit, contained in a multifamily housing development,
affordable for ownership or rent as set forth herein.
New construction consisting of 10 or more dwelling units
which is not otherwise subsidized by any federal, state or local agency
either through loans, grants or tax credits for the purposes of providing
affordable housing units.
A.
Every multifamily housing development for which municipal approval
is sought after the date of the enactment hereof, excluding any project
presently pending before the Planning Board, Village Board or Zoning
Board of Appeals of the Village of Spring Valley, shall set aside
a minimum of 10% of the dwelling units in said development as affordable
housing units affordable for ownership or rent as set forth herein.
B.
"Affordable for ownership" shall mean ownership housing which is
affordable to families earning between 60% and 120% of median family
income for Rockland County as derived from income limits published
annually by the United States Department of Housing and Urban Development
("HUD"), as adjusted for family size, as determined by a qualified
institutional lender willing to underwrite a mortgage or co-op loan
based on standard underwriting criteria.
C.
Affordable for rent shall be determined based on the ratio of monthly
housing costs to income where such costs, including rent, association
charges, gas, electric and water utilities shall not exceed 33% annually
of 60% to 120% of the median family income for Rockland County as
derived from income limits published annually by the United States
Department of Housing and Urban Development ("HUD"), as adjusted for
family size.
In lieu of setting aside the units required by § 60-3 hereof, the developer of a multifamily housing development may, on a majority vote of the Village Board prior to the first of any required municipal approvals, pay an affordable housing contribution, it being understood that the strong preference of the Board of Trustees is for the inclusion of affordable housing units in the development rather than the payment of the affordable housing contribution. The affordable housing contribution may be satisfied by the contribution of equivalently appraised real property if so determined by the Board of Trustees.
Any affordable housing units developed pursuant to this article
shall be no smaller than the smallest unit not designated an affordable
housing unit and shall contain the same amenities as all other units
in the development.
Affordable housing units developed hereunder must remain affordable
as defined herein for a term of no less than 30 years.
The Board of Trustees may promulgate additional policies and
procedures to effectuate the purposes of this article.
Any multifamily housing development developed hereunder shall
affirmatively certify, under oath in a form acceptable to the Village
Clerk, that it is in compliance with all federal, state and local
laws governing discrimination in housing. No developer shall discriminate
in the sales, lease or rent of any unit on the basis of race, gender,
ethnicity, religion, religious sect, veterans' status, sexual
orientation, creed or gender identity expression.
