A. Condominiums, as defined in Section 19.38.020 create conditions that differ markedly from those associated with rental units. It is the intent of the City to treat such projects differently from other types of multi-family dwellings, or commercial uses, and to establish rules and standards that regulate the construction of and/or the conversion of structures to condominium, community apartment or stock cooperative within the City.

B. The City Council specifically finds: that multifamily dwellings that might seek to be converted to condominium use were not constructed originally in a manner which envisioned individual ownership of such dwelling units; unregulated conversion of existing rental housing to condominium may have an impact upon the stock of rental housing available to the community and may impact the price of housing in the City. In a period of extremely low vacancy factors or available City rental units, unregulated conversions to condominiums might work a hardship on tenants of buildings sought to be converted, who may find themselves unable to find replacement housing in the City or in Southern Marin, and also may find themselves unable to purchase the unit they occupy, after a conversion.

C. The rules and standards set forth herein are intended to guarantee that rental units being converted, or structures initially erected as condominiums, meet reasonable construction criteria under State and local laws, ordinances and regulations; that a reasonable balance between rental housing and owner-occupied housing continues to exist in the community; and the character of the units constructed or converted hereunder are consistent with the existing character of structures in the area.

D. These rules and standards shall apply to a subdivision initially created as condominium units or community apartments or as a stock cooperative, the conversion of an existing multi-family unit to a condominium, community apartment or stock cooperative, and the conversion of an existing commercial building to a condominium, as defined in Section 19.38.020.

E. An initial limit of thirty-five condominiums will be allowed from and after the effective date of the ordinance codified in this Title, after which point the impacts thereof may be assessed on the City. The thirty-five units allowed hereunder shall not be construed as an absolute limit on construction or conversion of units to condominiums, but shall serve only as a point for reevaluation of the impact of said units upon the City. (Ord. 89-1 § 1, 1989.)