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In addition to these priorities, the Affordable Housing Fees (i.e., the LIHF) Chapter 17.40 of the PMC also notes, in Section 17.40.040.C.: "When the city uses affordable housing fund moneys to construct or assist in the construction of lower-income units, the city may establish the rules which will apply to occupancy of said units. It is the intention of this chapter to and the general plan that such units be made available on a priority basis to Pleasanton residents and workers."' In reviewing the policies and priorities, staff believes they provide reasonable guidance that aligns well both with the most important housing needs in the community, particularly the groups for which state law dictates a particular or special effort must be made to serve. In recognition that housing projects are often opportunistic, it is likely in the City's interest to retain flexibility and discretion in how to allocate the LIHF, rather than set up a more rigid framework of policy preferences for allocation of City housing funds. However, the City Council may wish to weigh in on whether other priorities should be established, or an alternative approach taken to that which is in place today. As noted in the recommendations section, some members of the Housing Commission suggested they could benefit from more strategic direction when formulating recommendations on how funds are allocated, and to understand the relative costs and benefits of various uses of LIHF. Inclusionary Zoning Ordinance Pleasanton's IZO was adopted in 2000, to require development to provide affordable units constructed as part of a housing project. Prior to this, only the LIHF was levied to facilitate the City's affordable housing goals. The City's IZO requires: • New multifami!y residential projects of 15 units or more to provide at least 15 percent of the dwellings as affordable to very low- and/or low-income households • New single-family residential projects of 15 units or more to provide at least 20 percent of the project's units as affordable to very low-, low-, and/or moderate - income households. • Commercial, office and industrial development to either pay the LIHF or provide affordable housing as part of the project. The specific mix of the units within the three affordability categories is subject to approval by the City Council; inclusionary units are required to remain affordable in perpetuity through recordation of an affordable housing agreement for the project. 3 It should be noted that, while the Ordinance's policy intention is clear, many affordable housing projects have used a combination of local- and non -local sources of funding; the majority of these funding sources come with limitations on the types of preferences that may be set and may preclude an explicit local preference being established or used as the primary basis for determining eligibility for a housing unit. Page 6 of 16