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The intent of allowing a land dedication option is to provide the City or a local non-profit <br /> housing developer the land needed 1:o make an Inclusionary Unit development feasible, <br /> thus furthering the intent of this Chapter. <br /> The dedicated land must be appropriately zoned, buildable, free of toxic substances and <br /> contaminated soils, and large enough to accommodate the number of Inclusionary Units <br /> required for the project. The City's acceptance of land dedication shall require that the <br /> lots be fully improved, with infrastructure, adjacent utilities, grading, and fees paid. <br /> C. Credit Transfers <br /> In the event a project exceeds the total number of Inclusionary Units required in this <br /> Chapter, the Project Owner may request Inclusionary Unit Credits which may be used to <br /> meet the affordable housing requirements of another project. Inclusionary Unit Credits <br /> are issued to and become the possession of the Project Owner and may not be transferred <br /> to another Project Owner without approval by the City Council. The number of <br /> Inclusionary Unit Credits awarded for any project is subject to approval by i:he City <br /> Council. <br /> D. Alternate Methods of Compliance <br /> Applicants may propose creative concepts for meeting the requirements of this Chapter, <br /> in order to bring down the cost of providing Inclusionary Units, whether on or off site. <br /> The City Council may approve alternate methods of compliance with this Chapter if the <br /> Applicant demonstrates that such alternate method meets the purpose of this Chapter (as <br /> set forth in Section 17.44.020). <br /> E. Lower Income Housing Fee Option <br /> In lieu of providing Inclusionary Units in a project, an applicant may pay the City's <br /> Lower Income Housing Fee as set forth in Chapter 17.40 of the Municipal Code. <br /> ARTICLE III-- MISCELLANEOUS <br /> Section 17.44.090. Administration <br /> An applicant of a project subject to this Chapter shall submit an Affordable Housing <br /> Proposal stating the method by which it will meet the requirements of this Chapter. The <br /> Affordable Housing Proposal shall be submitted as part of the applicant's City <br /> development application (e.g., design review, Planned Unit Development, etc.) to the <br /> Planning Department in a form approved by the City Manager. The Director of Planning <br /> and Community Development may waive the requirement for submittal of an Affordable <br /> Page 10 <br /> INCLUSIONARY ZONING ORDINANCE CC appr.doc/SFE <br /> 8/18/06 3:56 PM <br />