(Amended by Ordinance No. 185495, effective July 11, 2012.)
A. The fee established by this Chapter for management of affordable residential rental property in the Clean & Safe District for a license year will be the sum of the following amounts, computed separately in relation to each such residential property within the District as to which the licensee is engaged in property management activities:
1. If the licensee is a not-for-profit corporation or a government entity, $20 multiplied by the number of affordable residential dwelling units managed by the licensee; and
2. If the licensee is other than a not-for-profit corporation, $44 multiplied by the number of affordable residential dwelling units managed by the licensee.
B. For purposes of this Section, “affordable residential rental property” means single room occupancy housing, as defined in Chapter 33.910 of this Code; low income housing; and subsidized housing. For purposes of this Subsection, low income housing is dwelling units available for rent at rates that are considered affordable, under federal affordability standards in effect on the July 1 immediately preceding commencement of the license year, to persons earning 60 percent or less of the Portland region median income as identified in the records of Metro as of that July 1. For purposes of this Subsection, subsidized housing is housing units available for rent at below market rates because either the units qualify for federal income tax benefits under Section 42 of the Internal Revenue Code; or the units are subsidized through United States Department of Housing and Community Development Section 8 subsidies or other public or private organization subsidies. Subsidized housing includes but is not limited to student housing owned by the Oregon State System of Higher Education and housing owned by non-profit organizations that is subsidized through charitable contributions and grants.
C. For purposes of this Section, “dwelling units” means dwelling units as defined in Chapter 33.910 of this Code.