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ATTACHMENT 7 <br />THE CITY OF <br />Housing Commission <br />el"M : ,, Agenda e p <br />ort <br />PLEASANTON,, February 18, 2016 <br />Item 09 <br />SUBJECT: Review and Approval of a Proposal to Utilize <br />Affordable Housing Credits in Lieu of <br />Providing Affordable Units at the Ponderosa <br />Homes Rose Avenue Estates Development <br />Located at 1851 Rose Avenue (PUD -99) <br />STAFF RECOMMENDATION: Approve the Ponderosa Homes Rose Avenue <br />Estates (PUD -99) Affordable Housing Agreement <br />(Attachment 1) allowing the use of IUCs in lieu of <br />providing affordable units <br />ATTACHMENTS: 1. Recommended Affordable Housing Agreement <br />2. Site Diagram <br />3. Inclusionary Zoning Ordinance (PMC Ch. 17.44) <br />4. Affordable Housing Agreement for the Ironwood <br />Development (5/6/2003) <br />BACKGROUND <br />Ponderosa Homes is currently pursuing approval of a Planning Unit Development (PUD) <br />approval to construct 19 single family homes on an approximately 9.2 -acre parcel located at <br />1851 Rose Avenue bordering the north side of the Alameda County Fairgrounds. The parcel is <br />zoned for medium density residential (PUD -MDR) and currently contains one single family <br />home and accessory structures which are not historic. The City is currently negotiating a <br />Development Agreement with Ponderosa that will allow for the site to developed in two <br />phases; a 16 lot phase developed by Ponderosa and a second phase of three (3) lots to be <br />retained for subsequent development by the property owner. The Affordable Housing <br />Agreement would pertain to both development phases for the site. The matter will be <br />considered by the City's Planning Commission at its meeting in March 2016. A proposed site <br />diagram is included as Attachment 2. <br />As the Commission is aware, the City's Inclusionary Zoning Ordinance (IZO) requires new <br />single - family residential projects of fifteen (15) units or more to provide at least 20% of the <br />dwelling units as affordable to very low, low, and /or moderate income households. For multi- <br />family projects of fifteen (15) units or more, the IZO requires at least 15% affordable units. A <br />copy of the IZO is included as Attachment 3. <br />Page - I - <br />