Once annually, the director of community development shall determine, on the basis of a representative sampling of apartment buildings, the apartment vacancy rate. Such determination shall be set forth in a written report to the planning commission and city council. New market priced apartments available to the general public, for which a certificate of use and occupancy has been issued since the last vacancy survey, shall be added on a unit-for-unit basis to either reduce the apartment vacancy deficiency or increase the apartment vacancy surplus. Apartments existing as of the last vacancy survey, for which demolition permits have since been issued, or for which a use permit or special development permit for conversion to community housing has been approved, shall be added or subtracted on a unit-for-unit basis to either increase the apartment vacancy deficiency or reduce the apartment vacancy surplus.
(Prior zoning code § 19.84.040; Ord. 2623-99 § 1; Ord. 2810-06 § 11)