Ordinance No. 0749 04-19-1982�.�.� �'i. '� � �
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Z4�e City Crnmcil of the City of Fridley does ordain as follaws:
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The City Camcil of the City of Fridley deens that there exists in the City a
significant shortage of suitable rental dwellings available to low and
moderate income individuals or families. Therefore� it is in the best
interest of the City to impose tenporary resttictions=on the conversion of
� existing r�tal miltiple dwellings to a condonuniinn form of ownership.
217.02 D�ONS
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��a in tn�s oza�e the tezms defined shall have the meanings ascribed
to r.h�.
1. "Condaminiinn' means a multiple dwelling in which portions are designated
for separate ownership and the renainder of which is designated f or comoon
ownership sa2ely by the owners of these portions. A multiple dwelling is not
a condomini�nn �mless the iaadivided interasts in the conman elanents are vested
in the imit ownere.
2. 'Conversion Condominium' means a multiple dwelling which has been
converted from rental units to ownership units in accordance with the Uniform
Cond�niniinn Act (CH. 582 - 1980 session) .
3. `Dwelling IInit' means a single unit providing complete indepe�dent living
facilities foc one ot moze persons including permanent provisions for living,
sleeping, eating, cooking and sanitation.
4. 'Multiple Dwelling' means any building or structure containing therein two
or more dwelling units whether used solely or exclusively for residential
Purposes.
5. 'Existing Multiple Dwellinq' means any multiple dwelling existing at the
effective date of this ordinance.
6. 'Owner' means the person or body having an interest in a multiple dwelling
as a fee owner or subordinate interest with the right to exetcise control and
managenent of the prenises.
�17.03 LENGIH OF
There shall be no conversion condoaniniams authorize8 in the City of Fridley
for a period af 12 months fran the effective date of this ordinance. This
testriction shall not apply to any wnversion condominiiun for which a bonafide
loan coinnittm�t for a consideration has been issued by a lender and is in
effect on the date of adoption of this ordinance, or for which a notice of
condominium conversion or intent to convert containing a termination of
tenancy has been given to at least 758 of the tenants and subtenants in
possession prior to fihe date of adoption of this ordinance.
217.04 RI(3iT5 OF 2i�, CITY
The City can extend its length of restriction or impose other reasonable
conditions upon conversfon condominiums if after the prescribed length ot
zestriction, the City still fi►x3s that there exists a significant shortage of
suitable rental dwellings available to laa and moderate income individuals ot
families.
PASSID AND ADOPTID BY RHE CITY OF FRIDLEY ZSiIS 19TH DAY OF APRIL, 1982
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` WILLIAM . •E - MAYOR �
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SIDNEY C. - QTSC CLERR
First Reading: April 5, 1982
Second Reading: Apzil 19, 1982
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