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The City of Pleasanton adopted its most recent Housing Element in 2015, covering a period from 2015 to 2023. The City's next RHNA is anticipated in 2022, allowing the City to have an updated Housing Element adopted by January 31, 2023. DISCUSSION The Housing Package The 15 bills generally fall into five categories, all of which seek to address the housing shortfall in some way by: • directly financing affordable housing production; • streamlining local review processes to facilitate housing; • increasing local accountability and reporting requirements for accommodating a fair share of new housing development; • allowing funding to pay for affordable housing development through inclusionary zoning; or • preserving the affordability of existing subsidized housing. The majority of these new laws will have little to no impact on the City's processes and procedures for reviewing housing development. However, there are three laws in particular that may impact the City more significantly than the others. This memo provides a detailed summary of those laws that could have the most impact on Pleasanton (SB 35, SB 166, and AB 1397) and offers an overview of the remaining legislation in the housing package. Because the Department of Housing and Community Development (HCD) is still in the process of creating new regulations and guidelines to address these changes, it is difficult to ascertain what the precise impacts will be. Detailed Summary of Senate Bill (SB) 35, SB 166, and Assembly Bill (AB) 1397 SB 35 (Streamlined Approval Process) This is one of two bills (SB 35 and SB 166, discussed below) approved by the State that could have the most impact on the City. SB 35 requires cities and counties to follow a streamlined local review process for some types of proposed housing projects if the city or county has failed to meet certain established goals for accommodating the Regional Housing Needs Allocation (RHNA). Specifically, if the defined number of units in any assigned RHNA income category has not been constructed in the city, projects within that jurisdiction are eligible for the streamlined development process. This bill essentially uses progress towards meeting RHNA targets as a key factor in determining whether or not a developer can choose the streamlined review process. On February 1, 2018, HCD released a list of all cities in the State that are eligible for the streamlined development process (included as Attachment 2). In accordance with HCD's most recent update, in order for a developer/applicant to be eligible for this Page 3 of 9