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EXHIBIT A <br />Proposed Code Amendment <br />Adding a New Chapter 17.38 (Density Bonus) to Title 17 of the Pleasanton <br />Municipal Code <br />protecting housing for very low, low, and moderate income <br />households. <br />(2) The off -site target units must not result in a significant <br />concentration of target units in any one particular <br />neighborhood. <br />(3) The off -site target units shall conform to the requirements of <br />all applicable city ordinances, standards and plans, and the <br />provisions of this chapter. <br />(4) The occupancy and rents, or for -sale costs, of the off -site <br />target units shall be governed by the terms of a deed <br />restriction, and if applicable, a declaration of covenants, <br />conditions and restrictions similar to that used for the on -site <br />target units. <br />(5) The density bonus housing agreement, as required by <br />Section 17.38.130, shall stipulate the terms of the off -site <br />target units. If the construction does not take place at the <br />same time as the project development, the agreement shall <br />require the units to be produced within a specified time <br />frame, but in no event longer than five years. A cash deposit <br />or bond may be required by the city, refundable upon <br />construction, as assurance that the target units will be built. <br />d. Fee Waiver or Deferral. The city council, by resolution, may waive <br />or defer payment of city development impact fees and /or building <br />permit fees applicable to the target units or the project of which <br />they are a part. Fee waivers shall meet the criteria included in the <br />city's adopted policy for evaluating waivers of city fees for <br />affordable housing projects. The density bonus housing <br />agreement, as required by Section 17.38.130, shall include the <br />terms of the fee waiver. <br />e. Other regulatory incentives or concessions proposed by the <br />developer or the city which result in identifiable, financially <br />sufficient, and actual cost reductions. <br />3. Except as provided in subsection (C)(1) of this section, a developer <br />requesting one or more incentives or concessions must include with <br />the application detailed financial report (pro forma) to demonstrate that <br />such incentive or concession would result in necessary, identifiable, <br />financially sufficient, and actual cost reductions that could not be <br />achieved without the incentive or concession. <br />Page 9 of 18 <br />