ORD 2082 - Laserfiche WebLink

EXHIBIT A Proposed Code Amendment Adding a New Chapter 17.38 (Density Bonus) to Title 17 of the Pleasanton Municipal Code Chapter 17.38 DENSITY BONUS Sections: 17.38.010 Purpose and Intent 17.38.020 Definitions 17.38.030 Eligibility 17.38.040 Calculation of Density Bonus 17.38.050 Incentives and Concessions 17.38.060 Waiver or Modification of Development Standards 17.38.070 Reduction in Off-Street Parking 17.38.080 Land Donation 17.38.090 Child Care Facilities 17.38.100 Condominium Conversion 17.38.110 Affordability and Development Standards 17.38.120 Application Requirements, Review and Findings 17.38.130 Density Bonus Housing Agreement 17.38.140 Conflict of Interest 17.38.010 Purpose and Intent. The purpose of this chapter is to comply with California Government Code Sections 65915 et seq. (State Density Bonus Law), as amended, as well as implement program 9.6 of the housing element (2012) of the city's general plan (2005-2025). 17.38.020 Definitions For the purposes of this chapter, certain words and phrases shall be interpreted as set forth in this section. A. "Affordable ownership cost" means monthly housing payments during the first calendar year of household's occupancy, including interest, principal, mortgage insurance, property taxes, homeowners' insurance, property maintenance and repairs, a reasonable allowance for utilities and homeowners' association dues, if any, not exceeding the following: 1. Very low income units: 50 percent of the Area Median Income, adjusted for assumed household size based on unit size, multiplied by 30 percent and divided by 12. 2. Low income units: 70 percent of the Area Median Income, adjusted for assumed household size based on unit size, multiplied by 30 percent and divided by 12. Page 1 of 18