4_Exhibit B - Laserfiche WebLink

DRAFT 35 | City of Pleasanton 2023-2031 Housing Element • Funding Source: Planning Division Budget, Housing Division Budget • Quantified Objective: Amend the Inclusionary Zoning Ordinance and achieve higher proportions and/or lower affordability levels of inclusionary units from projects approved consistent with the amended Ordinance Program 2.2 Require new commercial development to pay the Lower-Income Housing Fee established by City Ordinance and adopted by the City, or to otherwise mitigate demand for new employee housing as allowed by the Pleasanton Municipal Code (e.g., through construction of units or dedication of land). Regularly evaluate the amount of these fees to ensure that they: (1) remain commensurate with the needs generated by the development; (2) are established at a level proportionate with the actual cost to provide new housing; and (3) are in conformance with state law while ensuring that Pleasanton remains locally and regionally competitive in attracting new commercial investment. • Responsible Agency: Housing Division, Planning Division, Economic Development Department • Time Period: Evaluate fee and adopt new fee as appropriate (December 2025) • Funding Source: Planning Division Budget, Housing Division Budget Program 2.3 Regularly review the Lower-Income Housing Fee for market-rate residential development, including consideration of adjustments to the fee within the amounts supportable by the existing Nexus Study to ensure the fee reflects the cost to mitigate demand for new affordable housing created by new development, and while ensuring that fee levels remain such that they do not present an undue constraint to housing production. As part of the review of existing fees, evaluate and change the basis of the residential fee to be structured on a per square foot basis, so as to incentivize the production of smaller units. • Responsible Agency: Planning Division, Housing Division • Time Period: Review and consider updates to fees based on existing Nexus Study (January 2025); commence comprehensive Nexus Study update (January 2026); adopted amended fees based on comprehensive Nexus Study update, including fees on a per square foot basis (October 2026) • Funding Source: Planning Division Budget, Housing Division Budget