Title
a. Approve and authorize Amendment No. 2 to the Markus A. Woehler and Kristi M. Woehler individual Inclusionary Housing Agreement to allow conveyance of their inclusionary unit into a revocable trust; and
b. Approve and authorize the Housing and Community Development Director, or his designee, to execute the approved Amendment No. 2 to Inclusionary Housing Agreement.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize Amendment No. 2 to the Markus A. Woehler and Kristi M. Woehler individual Inclusionary Housing Agreement to allow conveyance of their inclusionary unit into a revocable trust; and
b. Approve and authorize the Housing and Community Development Director, or his designee, to execute the approved Amendment No. 2 to Inclusionary Housing Agreement.
SUMMARY:
Inclusionary Housing Program homeowner, Markus A. Woehler, an unmarried man, purchased his inclusionary unit in 1998 and executed a 30-year Inclusionary Housing Agreement ("Agreement"). In February of this year, Markus A. Woehler added his wife, Kristi M. Woehler, to the title of the property and to the inclusionary housing program Agreement. Now, Markus A. Woehler and Kristi M. Woehler are requesting approval to transfer title of their Inclusionary Housing Unit into a revocable living trust as part of their estate planning. They own the inclusionary unit in the Oak Tree Views Subdivision, and their unit is designated as a moderate-income unit. Under the terms of the recorded Owners' Inclusionary Housing Agreement with the County, transfers of title between owner-spouses and to eligible purchasers (i.e., new income qualified owner-occupants) are the only permitted transfers of title. Per the terms of the Agreement, any other transfer of property title, including into a trust, is not allowed.
The current Inclusionary Housing Program does allow transfers of title by Owner into an inter vivos trust in which Owner is the beneficiary is allowed, prov...
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