§ 6–1041.03. Establishment of maximum rent and purchase price; publication requirement.

(a) The Mayor shall establish the maximum rent or purchase price for the first sale of an inclusionary unit based upon either the actual income of the household selected by the Mayor to lease or purchase the unit or based upon a rental and price schedule as follows:

(1) Rents based upon the actual income of a household shall be established so that the household will not expend more than approximately 30% of its annual income on rent and utilities.

(2) Purchase prices based upon the actual income of a household shall be established so that the household will not expend more than approximately 30% of its annual income on mortgage payments, including principal, interest, and property insurance and taxes, home owner association or condominium fees, and utilities.

(3) Maximum rent and purchase prices established through a schedule applicable to eligible households shall be set so that an eligible household earning 50% of the MFI, 60% of the MFI, 80% of the MFI, or other percentage of the MFI established by an order approving a Planned Unit Development pursuant to Chapter 3 of Title 11-X of the District of Columbia Municipal Regulations will expend no more than approximately 30% of its annual income on the applicable housing costs identified in subsections (b) and (c) of this section.

(4) Repealed.

(b) The initial rental and prices schedule shall be published in the District of Columbia Register. The schedule may be modified as necessary to maintain the affordability of inclusionary units. The initial and revised schedules need not be offered for public comment through publication of a notice of proposed rulemaking and shall become effective upon publication in the District of Columbia Register. Each published schedule shall identify the assumptions underlying the prices and rents established, such as the mortgage term and the average interest rate, taxes, insurance, condominium fees used.

(c) Except as provided in subsection (d) the purchase price, for the second and all subsequent sales of an inclusionary unit shall equal not more than the purchase price paid by each seller plus the costs of the improvements permitted by regulation to be added to the purchase price, which amount shall be either multiplied by the percentage by which the consumer price index has risen or fallen since the date on which that seller purchased the property, or calculated pursuant to another formula as determined and published by the Mayor.

(d) The purchase price for the second and all subsequent sales of an inclusionary unit sold to the Mayor shall equal the purchase price paid by each seller plus the costs of the improvements permitted by regulation to be added to the purchase price, which amount shall be multiplied by 25% or the percentage that the consumer price index has risen or fallen, whichever is lower, since the date on which that seller purchased the property.

(Mar. 14, 2007, D.C. Law 16-275, § 103, 54 DCR 880; Sept. 23, 2017, D.C. Law 22-24, § 2(c), 64 DCR 7647.)

Section References

This section is referenced in § 6-1041.02 and § 42-2802.

Emergency Legislation

For temporary (90 days) amendment of this section, see § 2(c) of Inclusionary Zoning Consistency Congressional Review Emergency Amendment Act of 2017 (D.C. Act 22-148, Oct. 10, 2017, 64 DCR 10447).

For retroactive applicability of D.C. Act 22-76, see § 6 of D.C. Act 22-76.

For temporary (90 days) amendment of this section, see § 2(c) of Inclusionary Zoning Consistency Emergency Amendment Act of 2017 (D.C. Act 22-76, June 13, 2017, 64 DCR 6082).

For temporary (90 day) amendment of section, see § 2(a) of Inclusionary Zoning Implementation Emergency Amendment Act of 2008 (D.C. Act 17-304, February 22, 2008, 55 DCR 2514).

Temporary Legislation

For temporary (225 day) amendment of section, see § 2(a) of Inclusionary Zoning Implementation Temporary Amendment Act of 2008 (D.C. Law 17-161, May 13, 2008, law notification 55 DCR 5894).

Editor's Notes

Section 6 of D.C. Law 22-24 provided that Law 22-24 "shall apply as of June 5, 2017, which is the effective date of the amendments to the inclusionary zoning regulations, set forth at Chapter 10 of Title 11-C of the District of Columbia Municipal Regulations, that were promulgated by the Zoning Commission for the District of Columbia on October 17, 2016 in its Notice of Final Rulemaking and Zoning Commission Order No. 04-33G (63 DCR 15404)."