SUPPLEMENTAL MATERIAL - Laserfiche WebLink

Attachment 2 Minimizing the footprint of higher density development Suggestion: Eliminate the use of the Inclusionary Zoning Ordinance for the provision of housing for families earning below 80% of the median on all properties rezoned at 30 du/acre and above. Require market rate developers to find qualifies nonprofit housing partners to provide at least 45% of the total development's units. Explanation: Market rate developers say that they cannot provide more than 15% of their units as affordable to households earning less than 50% of the area median. That means that in order to provide the 713 units required for this planning period that they need to construct 4753 apartments at 30 units/acre on over 158 acres. In the process, they would provide 3635 unneeded moderate income apartments, throwing Pleasanton's housing mix substantially off balance, and wasting about 120 acres on high density housing Pleasanton isn't required to build and doesn't need. In contrast, a nonprofit developer could provide the same level of affordability at this density on only 24 acres. Furthermore, nonprofit developers provide specialized amenities and services for lower paid members of the workforce and their families which market rate developers do not provide. Conclusion: To reduce the total footprint of higher density development at build-out, require any development proposals on land zoned at 30 units/acre to provide at least 25% of the units through a qualified nonprofit developer for households earning below 50% of the median and 20% earning below 80% of the median. All other units at that density automatically qualify as affordable to households earning between 80 and 120% of the median.