City of Downey

MUNICIPAL CODE ARTICLE IX – LAND USE9510.18 9510.18Table 9.5.1Large-Scale Repairs Deposit Calculation: Schedule of Values for A, B, and CCriteriaTotal number of units within the complex:Value of A1-3 units $500 per unit4-8 units $400 per unit9-14 units $300 per unit15 or more units $200 per unitAge of the complex:Value of B1-3 years 04-8 years 19-11 years 215 or more years 3Total number of units within the complex:Value of C8 or fewer units $1,0009-14 units $2,90015 or more units $6,000Value(A) For example, the total amount of money to be set up in trust for the conversion of ten (10)year-old complex with a total of eight (8) units would be calculated as follows:Using Table 9.5.1:Value A = 8 units x $400 per unit = $3,200Value B = 10 years = 2Value C = 8 units = $1,000(Value A) x (Value B) + (Value C) = Total amount of deposit; therefore:($3,200) x (2) + ($1,000) = $7,400.(B)The developer of a converted complex shall also pay the monthly association fee requiredfor each unit that is unsold at the time each unit’s association fee is due to the HomeOwner’s Association from the time the first unit in that complex closes escrow.Section 9510.18. Final Inspection Report.A final inspection report shall be made by the Building Official prior to consideration of the finalsubdivision map, or parcel map, indicating the compliance with all requirements imposed herein.(A)The subdivider shall improve, or post a cash bond or letter of credit with the Cityguaranteeing the installation of improvements to City standards, in substandard streets ordeficient street improvements abutting the property, to the satisfaction of the CityPlanner. These improvements may include, but shall not be limited to dedication, curbs,gutters, paving, sidewalks, ramps, driveways, drainage devices, trees and tree wells, andstreet lights.9.5-14