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Zoning and Uses Conformance City Council approved the rezoning of the site in January 2012. The approved zoning designation for the residential portion of the property is Planned Unit Development— Mixed Use (PUD-MU), which allows residential, commercial, or some combination of the two. The approved uses for the project site include multi-family residential development; as such, the project conforms with the current zoning designation. 2012 Housing Site Development Standards and Design Guidelines (HSDG) Density and Unit Mix The 5th Cycle Housing Element and 2012 Housing Design Guidelines require a minimum density of 40 units per acre for the approximately six-acre project site; this density would be met by the project. Under State Law and the Pleasanton Municipal Code (PMC), the City must provide for increases in residential density (known as "density bonuses") and provide incentives or concessions (generally relaxation or waivers in development standards) for housing developments that provide a specified percentage of affordable units.3 Affordable units are those offered for sale or rent at rates determined "affordable" to households in various income categories (very-low, low, and moderate income), below the cost of market-rate units. Controlling State law establishes varying amounts of density bonus and incentives or concessions depending upon the percentage of affordable units and range of affordability, as well as special consideration for certain types of residents (i.e., seniors, foster youth, college students), via a specific set of formulas set forth in the statute. As part of the application, the applicant is proposing to provide 24 percent of the proposed base units (240 x 24% = 58 units total) to be restricted to low-income households, which would allow for a 50-percent density bonus (240 base units and 120 density bonus units for a total of 360 units). The 2012 Housing Guidelines require a minimum of 10 percent of the affordable units to be three-bedroom, a minimum of 35 percent of units to be two-bedroom, and the remainder to be one-bedroom or studio. The project would meet these requirements. As noted above, the proposed 240 base units for the project conforms to the 40 units per acre requirement. The 50-percent density bonus, resulting in an additional 120 units, increases the project to 360 units total, which results in a project density of 60 units per acre. Per State Density Bonus law, density bonus units shall not create inconsistency with underlying density. 3 As part of the 2012 Housing Element Update, the City was required to update the PMC to include a Density Bonus Ordinance to be consistent with State Density Bonus Law. PMC Chapter 17.38 Density Bonus was adopted by Ordinance No. 2082 in 2013. Subsequently, the state legislature has changed State Density Bonus Law several times, and the City is subject to those state-wide changes even if PMC 17.38 is out-of-date. Page 28 of 41