RES 231414 - Laserfiche WebLink

2023-2031 Housing Element City of Pleasanton | 36 • Funding Source: Planning Division Budget, Housing Division Budget • Quantified Objective: Amend the Inclusionary Zoning Ordinance and achieve higher proportions (i.e., greater than 15 percent) and lower affordability levels of inclusionary units from projects approved consistent with the amended Ordinance, provided an inclusionary rate of greater than 15 percent is demonstrated to not constrain housing production consistent with state law; achieve 80 below market rate units over the planning period • Geographic Targeting: Achieve low and moderate-income housing units in Racial or Ethnically Concentrated Areas of Affluence (RCAAs) and areas of relatively higher income (i.e., see Appendix F, Figure F-9: Median Household Income) 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