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ATTACHMENT 2 Q CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, ALAMEDA k RESOLUTION NO. 04-073 sew 1, GUIDELINES FOR INCLUSIONARY UNIT CREDITS (IUC'S) AS SET FORTH IN CITY ORDINANCE 1818 (Chapter 17.44 of the Pleasanton Municipal Code) WHEREAS, the City Council adopted in November 2000 an Inclusionary Zoning Ordinance, Ordinance No. 1818, codified in Chapter 17.44 of the Pleasanton Municipal Code; and WHEREAS, Section 17.44.080 (C), Credit Transfers, provides for the application of Inclusionary Unit Credits IUC's) in accordance with the following language: In the event a project exceeds the total number of Inclusionary Units required in this Chapter, the Project Owner may request Inclusionary Unit IUC's, which may be used to meet the affordable housing requirements of another project. Inclusionary Unit TUC's are issued to and become the possession of the Project Owner and may not be transferred to another Project Owner without approval by the City Council. The number of Inclusionary Unit TUC's awarded for any project is subject to approval by the City Council. WHEREAS, at its meeting of June 29, 2004, the City Council reviewed the Inclusionary Zoning Ordinance and determined the need to develop guidelines for the application of IUC's as detailed above. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The City Council hereby adopts the following Guidelines for Inclusionary Unit Credits: A. The City Council shall make the final determination regarding granting or denying IUC's. The Council may approve or deny the application of credits based on its review of a development application.