Notwithstanding subdivision (d) of Section 54237, after a surplus residential property located within the City of Pasadena is offered for sale pursuant to subdivisions (a) to (c), inclusive, of Section 54237, the surplus residential property shall be offered for sale in accordance with all of the following priorities and procedures: (a) After the surplus residential property is offered for sale pursuant to subdivisions (a) to (c), inclusive, of Section 54237, these properties shall then be offered at fair market value to present tenants who have occupied the property for five years or more and who are in good standing with all rent obligations current and paid in full, with first right of occupancy to the present tenants. (b) After the surplus residential property is offered for sale pursuant to subdivisions (a) to (c), inclusive, of Section 54237 and subdivision (a) of this section, and if the property is not occupied by tenants, the property shall be offered to the City of Pasadena subject to all of the following: (1) The sales price shall be the price paid by the Department of Transportation for original acquisition. The original acquisition price shall not be adjusted for inflation. (2) Surplus residential property sold pursuant to this subdivision shall be sold in its existing âas isâ condition. (3) The City of Pasadena shall, with the proceeds generated from the subsequent sale of unoccupied homes, finance the production or acquisition of affordable housing units. Units produced must have a regulatory agreement requiring an affordable sales price or an affordable rent, as defined in Sections 50052.5 and 50053 of the Health and Safety Code, for a minimum of 55 years for rental and 45 years for owner-occupied affordable housing. Units acquired must have a regulatory agreement requiring an affordable rent, as defined in Section 50053 of the Health and Safety Code, for a minimum of 55 years for rental. Proceeds may be used to finance either or both of the following: (A) The production of three housing units affordable to persons and families of very low, low and moderate income, as defined in Section 50093 of the Health and Safety Code, for every unoccupied home purchased by the City of Pasadena. (B) The acquisition of three existing units for use as rental housing affordable to persons and families of very low, low, and moderate income, as defined in Section 50093 of the Health and Safety Code, for every unoccupied home purchased by the City of Pasadena. (4) Prior to closing escrow on the purchase of the surplus residential property from the Department of Transportation, the City of Pasadena shall demonstrate to the Department of Housing and Community Development the zoned capacity on parcels suitable for housing development to produce at least three affordable units, as defined in paragraph (3), for each housing unit on the surplus residential property being purchased and identify and analyze potential and actual governmental constraints to the maintenance, improvement, or development of housing affordable to persons and families of low income, including housing for people with disabilities, on said parcels to the satisfaction of the Department of Housing and Community Development. The analysis must also demonstrate local efforts to remove constraints that hinder development of the parcels and evaluate their impact on the speed of delivery and depth of affordability of the necessary affordable units prescribed in paragraph (3). (5) Units may be produced or acquired on a single site, or on multiple sites. (6) All units acquired or produced shall be within high or highest resource census tracts within the City of Pasadena, as identified by the latest edition of the California Tax Credit Allocation Committeeâs opportunity maps. To the greatest extent possible, units acquired or produced shall be in geographic proximity to the unoccupied homes that were sold by the City of Pasadena. (7) The City of Pasadena shall commenc
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