ORD 1488 - Laserfiche WebLink

determine the estimated reasonable cost to provide lower-income housing and to determine the estimated funds currently available to construct such housing; and WHEREAS, in the absence of the City's imposition of the fee established through this ordinance on future residential and COI projects, the construction of a sufficient number of housing units will be inadequate to meet the City's lower-income housing needs as identified in the Housing Element of the General Plan; and WHEREAS, the fee established through this Ordinance does not exceed the estimated reasonable cost to implement the goals and objectives of the Housing Element; the implementation of the Housing Element is necessary to 'reduce the adverse impacts of new development; and the method of allocation adopted by this Ordinance, which is based upon the needs by land use type, assures that the fee applicable to a particular development bears a fair and reasonable relationship to each such developer's burden on, and benefit from, the City's affordable housing to be funded by this Ordinance; and WHEREAS, periodic review of the resolution adopted pursuant to this ordinance will permit the fee to be adjusted such that the fees continue to reflect the reasonable cost to implement the Housing Element. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES~ HEREBY ORDAIN AS FOLLOWS: Section 1: Chapter 17.40 is hereby added to Title 17 of the Pleasanton Municipal Code, to read as follows: "chapter 17.40 Lower-Income Housina Fee 17.40.010 Pl/rDose. A lower-income housing fee is hereby established as set forth in this Ordinance in order to assist in meeting the lower-income and moderate-income housing goals as established in the General Plan. 17.40.020 Definitions. A. 'Commercial, office or industrial development project' shall mean any construction of a new commercial, office or industrial structure, the addition to any existing commercial, office or industrial structure, or the 2