15.30.300 - Financial incentives—Qualifications.

A.

From time to time, the city may provide opportunities for purchasers and current owners of existing residential buildings to apply for financial incentives to voluntarily strengthen their residences against earthquake damage. To qualify, purchasers and current owners shall complete either a prescriptive or non-prescriptive seismic strengthening upgrade in full conformance with the approved design and all conditions of the issued permit.

B.

Purchasers and current owners shall not be eligible for financial incentives for work previously completed, with or without required permits, fees, or inspection approvals, which conforms with or exceeds either a prescriptive or non-prescriptive seismic strengthening design. Inspection of residential buildings by the Building Official to confirm the presence or absence of previously installed seismic strengthening and its structural capacity shall be a condition of permit issuance.

(Ord. 12812 § 1 (part), 2007)

15.30.310 - Financial incentives—Program.

Financial incentives, as may be available, shall include the following:

A.

A determinate permit fee, as established in the Master Fee Schedule.

B.

A portion of the real estate transfer tax for a newly purchased residential building, not to exceed one-half of one percent (0.5 %) of the purchase price of the residential building, as verified by the Building Official, or five thousand dollars ($5,000.00), whichever is the lesser amount.

(Ord. 12812 § 1 (part), 2007)

15.30.320 - Financial incentives—Requirements.

A.

To qualify for a determinate permit fee incentive, as may be available, the purchaser or current owner shall:

1.

Submit a certified copy of the recorded instrument of ownership with a permit application to the Building Official.

2.

Within one year following approval of the permit application for issuance, receive a certificate of completion of the work from the Building Official.

3.

Within thirty (30) calendar days following issuance of a certificate of completion, submit an instrument approved by the Building Official establishing continuing ownership of the real property.

B.

To qualify for a real estate transfer tax incentive, as may be available, the purchaser shall:

1.

Within sixty (60) calendar days following recordation by the Alameda County Clerk-Recorder of a transfer of ownership of the real property to the purchaser, submit the following documentation with a complete permit application to the Building Official:

a.

certified copy of the recorded instrument of ownership transfer, and

b.

approved instrument establishing the purchase price of the residential building.

2.

Within one year following approval of the permit application for issuance, receive a certificate of completion of the work from the Building Official.

3.

Within thirty calendar days following issuance of a certificate of completion, submit an approved instrument to the Building Official establishing continuing ownership of the real property.

(Ord. 12812 § 1 (part), 2007)