[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:
- AFFORDABLE HOUSING CONTRIBUTION
- 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.
- AFFORDABLE HOUSING UNIT
- A housing unit, contained in a multifamily housing development, affordable for ownership or rent as set forth herein.
- MULTIFAMILY HOUSING DEVELOPMENT
- 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.
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.
"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.
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.