PC 2006-56 - Laserfiche WebLink

EXHIBIT B "Chanter 17.44 Inclusioaary Zoning ARTICLE I GENERAL PROVISIONS Section 17.44.010. Title. This Chapter shall be called the "Inclusionary Zoning Ordinance of the City of Pleasanton." Section 17.44.020. Purpose. The purpose of this Chapter is to enhance the public welfare and assure that further housing development attains the City's affordable housing goals by increasing the production of residential units affordable to households of very low, low, and moderate income, and by providing funds for the development of very low, low, and moderate income ownership and/or rental housing. In order to assure that the limited remaining developable land is utilized in a manner consistent with the City's housing policies and needs, 15 percent of the total number of units of all new Multiple Family Residential Projects containing 15 or more units, constructed within the City as it now exists and as may be altered by annexation, shall be affordable to Very Low and Low Income households. For all new Single Family Residential Projects of 15 units or more, at least 20% of the project's dwelling units shall be affordable to Very Low, Low, and/or Moderate Income households. These requirements shall apply to both ownership and rental projects. Section 17.44.030. Definitions. For the purposes of this Chapter, certain words and phrases shall be interpreted as set forth in this section unless it is apparent from the context that a different meaning is intended. Affordable Housing Pr000sat: A proposal submitted by the Project Owner as part of the City development application (e.g., design review, Planned Unit Development, etc.) stating the method by which the requirements of this Chapter are proposed to be met. Affordable Rent: A monthly rent (including utilities as determined by a schedule prepared by the City) which does not exceed one-twelfth (1/12) of thirty percent (30 of the maxirnum annual income for a household of the applicable income level. Affordable Sales Price: A sales price which results in a monthly mortgage payment (including principal and interest) which does not exceed one twelfth (1/12) of thirty-five percent (35 of the maximum annual income for a household of the applicable income level.