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Policy 20: Ensure compliance with the Inclusionary Zoning Ordinance by requiring each <br />residential and non-residential prHjest development to which the Ordinance applies to include its <br />pro-rata shaze of very low- and low-income housing need.,, a F a ' T ~i rv c, or, if the <br />Ordinance criteria are met, to contribute an in-lieu fee to the lower-income housing fund to <br />facilitate the construction of very low- and low-income housing. It is strongly encouraged that <br />the Inclusionarv Zoning Ordinance requirements be met by building housing affordable to low- <br />and very low-income households. <br />Program 20.1: Monitor the results of the Inclusionazy Zoning Ordinance annually to <br />determine if ~rtsuru-tkat developers are primarily buildi~ new low- and very low- <br />income housing units instead of paying in-lieu fees with for new developments acts. <br />If it is determined by the City Council upon recommendation by the Housing <br />Commission that the Inclusionary Zoning Ordinance is not ,_>^~.~to produci~€ <br />sutficient tl>E;+~~~~stioai-ef low- and very low-income housing, consider modifying the <br />Ordinance '' ''"' '' '' ~'F a so that it can better achieve that this <br />objective. <br />Policy 21: Use the lower-income housin * fee to generate funds for the provision of very low- <br />and lower-income housing. The low-income housing fund should be used primarily to leverage <br />state and federal funds in the development of very low- and low-income housing and in housing <br />loan programs, so that the fund may be used most efficiently and maintained over time. <br />(Formerly Program 14.8) <br />Program 21.1: Review and modify the lower-income housing fee annually in <br />conformance with AB 1600, and consider changing the basis of the fee to reflect the true <br />cost of providing housing. <br />Program 21.2: Exempt all low- and very-low-income housing units from the low-income <br />housing fee. <br />Program 21.3: Use the lower-income housing fund to help build low- and very low- <br />income housing on City-owned land. <br />Program 21.4: Use the lower-income housing fund to purchase land, write down <br />mortgage costs, rehabilitate units, subsidize rents, issue tax exempt bonds, post loan <br />collateral, pay pre-development costs, and otherwise help produce housing units <br />affordable to lower-income households. <br />Revised Draft Housing Element Goals, Policies, and Programs: (/28/02 - 9 - <br />