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Strategic Plan and its relationship to the Housing Element. The proposed new program will include ongoing assessment of the City's existing housing stock and the need for workforce housing to strengthen the City's economic base. The proposed Policy and Program addition as well as draft minutes from the August 21, 2014 Economic Vitality Committee can be found within Attachment 4. RHNA Requirements When analyzing whether the City has demonstrated adequate capacity to meet its assigned affordable housing obligation, HCD analyzes each of the City's RHNA income categories, with priority given to ensuring adequate inventory for housing for Tower- income households. Per HCD guidelines, vacant/underutilized sites with a density of 30 units per acre or greater are considered inventory for the construction of very low- and low- income housing; permitted and approved sites with a density of 30 units per acre or greater are considered inventory for the construction of moderate - income housing; and lower density single - family residential sites are considered inventory for the above moderate - income category. The majority of the City's surplus (1,108 units) is within the moderate - income category and consists entirely of projects that are already permitted and approved. Even if the City has a "surplus" of overall inventory, HCD will not certify the Housing Element unless the requirements for each income category (particularly low and very low income categories) are met. However, HCD will allow use of a surplus in a lower income category to be used in a higher income category. The City of Pleasanton is required to show capacity for 1,107 units affordable to very low - and low- income households. Staffs currently anticipates a capacity of 1,482 units (291 units approved through affordable housing agreements and 1,191 units on vacant /underutilized sites), 375 units above the required capacity. All vacant or underutilized sites zoned for 30 units per acre or more are shown in Table 2. Table 2: RHNA Low- and Very Low- Income Capacity (i.e. 30+ units /acre * Income - restricted units through Affordable Housing Agreements Page 4 of 8 Low- and Very Low- Income Estimated Capacity Permitted and Approved Projects* 291* Sheraton Site 99 Stoneridge Shopping Center Site 88 Kaiser Site 183 BART Site 249 CM Capital 2 Site 200 Hacienda 3 (Roche) Site 372 Total 1,482 2014 -2022 RHNA 1,107 RHNA Surplus +375 * Income - restricted units through Affordable Housing Agreements Page 4 of 8