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BACKGROUND The City utilizes a comprehensive development review process, consistent with its General Plan that incorporates considerable community and commission review to assure that proposed development meets community and City Council expectations. Since 1978, one step of the process includes application of the Growth Management Ordinance that provides the guidelines for pacing the rate of construction for approved residential developments. This pacing is accomplished by establishing the number of residential building permits available in any given year. The number of available residential building permits available is referred to as the annual unit allocation. The GMO was last amended in October 2012 to include, in part, the following: 1. Requires the City Manager to provide a report indicating the annual unit allocation based on the ordinance's requirement that it be determined by dividing the number of RHNA housing units assigned to Pleasanton divided by the years in the current RHNA cycle. Prior to this amendment, the GMO allowed building permits for up to 350 residential units annually except when necessary to meet the City's RHNA numbers. 2. Removes reference to three categories/ suballocations including affordable housing, major project and first-come, first served. As a result, all growth management allocations are on a "first come" basis with the provision that the Council can "borrow" from future years to meet growth management needs as it determines appropriate. 3. Permits the trading and transfers of growth management allocations to reflect changes in project construction scheduling and the number of applications received. Approvals are at the discretion of the City Council and may not result in the total number of unit allocations exceeding the number of units assigned to the City for a specific RHNA cycle. DISCUSSION Regarding number 1 above, the GMO (Section 17.36.060) establishes that effective July 1, 2014, the annual growth management unit allocation shall be equal to the number of units required to meet the City's RHNA for the fifth cycle which runs from January 1, 2014 to October 31, 2022. Listed below are the approved RHNA numbers for the fifth RHNA cycle commencing January 1, 2014. PLEASANTON'S REGIONAL HOUSING NEEDS ALLOCATION FOR THE 5th CYCLE RHNA Cycle Very Low Low Moderate Above Total (50% AMI) (80% AMI) (120% AMI) Moderate RHNA for Fifth Cycle 716 391 407 553 2,067 Based on the above, in accordance with the GMO, the annual GMO unit allocation commencing July 1, 2014 will be 235 units (2,067 total RHNA units / 8.8 years in the fifth cycle = 235 units). While the current RHNA will run until October 31, 2022, for implementation/administration purposes, staff is recommending this annual allocation number remain in effect until June, 30, 2022 at which time the new RHNA numbers should be available for the sixth RHNA cycle.