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In 2022, building permits were issued for 53 new residential housing units (39 single-family homes and 14 ADUs), and 23 residential units under construction were finaled (12 single-family homes and 11 ADUs). The 53 building permits issued in 2022 is a slight increase as compared to the number issued in 2021 (40 units). Of the building permits issued, six permits are for moderate-income units and 47 are for above moderate-income housing. Based on the existing market demand and approvals/entitlements issued in the past year, staff expects the City will issue a greater number of permits in 2023 as compared to 2022. Projects expected to begin construction include the 294-unit Avalon Bay project and the 360-unit Stoneridge Mall Residential project; projects already under construction but anticipated to be completed include the Lund Ranch and Austin-Meadowlark subdivisions. In addition, the number of ADUs is anticipated to continue to increase over the next year, consistent with past years' trends. The 2022 APR requires that the City report the production of units and complete applications for lot splits under SB9. In 2022, no complete applications were submitted under SB9. Despite these general trends, recent interest rate hikes and ongoing construction cost increases may affect housing production, and it is difficult to predict whether the city will see a slow-down in new housing construction. The APR contains a report on all applicable activities that occurred within the entire reporting year. The 6th Cycle Housing Element covers the RHNA projection from June 30, 2022, to December 15, 2030. The 2022 reporting year includes a change in cycle. Any units approved, permitted, or finaled after June 30, 2022 will count towards the 6th cycle progress. Tables 1 and 2 summarize RHNA progress in the current cycle (2014-2022) and prior cycle (2007-2014) (Table B in the APR). The City has produced a total of 376 affordable units (out of a total of 1.757 units) so far within our current eight-year cycle (2015-2023) compared to a total of 207 affordable units (out of a total of 1,284 units) in the entire eight-year cycle between 2007-2014.' This reflects an increase in the proportion of affordable units relative to market rate units, compared to the prior cycle (21 percent of total units produced being affordable in this cycle, versus 16 percent). The table reflects building permits issued, not planning applications received or approved. Page 3 of 5