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General Plan Excerpts — Lower -Income Housing Fund ATTACHMENT 1 Housing Element Program 11.1: Continue to provide incentives such as reduced development fees, assistance in public improvements, priority in permit processing, increased density, altered site -development standards, mortgage revenue bonds, affordable -housing competition, and other creative incentives to encourage the development of housing affordable to moderate-, low-, extremely low-, and very low- income households and households with special needs. A priority will be placed on projects that provide the largest number of units at the greatest level of affordability. The availability of incentives will be incorporated in the City's Inclusionary Zoning Ordinance, to be consistent with State law and recent court decisions, but for specific projects, will also be promoted through the City's web site, in local newspapers, and through posting at public places subject to normal procedures. The objective of this program is to assure that incentives are made available and known to the development community. Policy 14: Preserve for the longest term feasible, restricted units affordable to extremely low-, low- and very low-income households which are at risk of changing to market -rate housing. Program 14.2: Structure future rent -restriction contract agreements to allow the City the opportunity to purchase or subsidize assisted units at the conclusion of the rent - restriction period. Program 14.4: Provide rehabilitation funds or other incentives such as a density bonus where appropriate for apartment complexes in exchange for extended or perpetual assisted -housing time periods. Program 14.5: Issue bonds or provide other funding where appropriate to reduce apartment complex mortgage rates in exchange for extended or perpetual assisted - housing time periods. Policy 15: Make appropriate modifications to the Land Use Element of the General Plan, Zoning Ordinance, and other City ordinances, programs, and policies to facilitate the provision of housing, especially housing for those with disabilities (including developmental disabilities), and housing affordable to moderate-, low-, and very low-income households. Program 15.2: Waive City fees for housing developments that provide a minimum of 15 percent affordable to extremely low-, low- and very low-income households. Policy 17: Ensure compliance with the Inclusionary Zoning Ordinance by requiring each for -sale residential and non-residential development to which the Ordinance applies to include its pro -rata share of housing needs for low- and very low-income households or, if the Ordinance criteria are met, to contribute to the lower-income housing fund to facilitate the construction of housing affordable to extremely low-, low-, very low-, and moderate -income households. Review and modify policies for rental housing to conform with State law and recent court decisions. It is strongly encouraged that the Inclusionary Zoning Ordinance requirements be met by building housing affordable to extremely -low, low- and very low-income households.