PC-2024-15 - Laserfiche WebLink

P24-0505, Amendments to Pleasanton Municipal Code and ODS Planning Commission, September 11, 2024 Exhibit A, PMC Amendments, Page 10 The percentage of inclusionary units required for a particular project shall be determined only once on a given project, at the time of tentative map approval, or, for projects not processing a map, prior to issuance of building permit. If the projectsubdivision design changes, which results in a change in the number of inclusionary unitsunit types required, the number of inclusionary units required shall be recalculated to coincide with the final approved project. In applying and calculating the number of inclusionary units required based on the specified percentage15 percent requirement, any decimal fraction less than or equal to 0.50 may be disregarded, and any decimal fraction greater than 0.50 shall be construed as one unit. B. Residential For-Sale Projects. For all new for-sale residential project, and where the project would include 10 residential units or more, at least fifteen (15) percent of the project's dwelling units shall be affordable to very-low, low- or moderate- income households as specified. These units shall be referred to as “Inclusionary Units.” The Inclusionary Units shall be reserved for purchase by eligible households, in the following proportions. The applicant shall not be prohibited from deepening the level of affordability in the project:  100 percent of the inclusionary units at a sales price affordable to a household whose income is no more than 120% of the Area Median Income. C. Residential Rental Projects. For all new residential rental projects, including where the rental units are part of a mixed use projects, and where the project would include 10 residential units or more, at least 15 percent of the project’s dwelling units shall be affordable to very-low [and/] or low-income households as specified. These units shall be referred to as “Inclusionary Units.” The Inclusionary Units shall be reserved for rent to eligible households within each income category as specified, in the following proportions. The applicant is not precluded from deepening the level of affordability in the project:  100 percent of the units at a sales price affordable to a household whose income is no more than 60% of the Area Median Income Alternative Option:  50 percent of the inclusionary units at a sales price affordable to a household whose income is no more than 50% of the Area Median Income.]  50 percent of the inclusionary units at a sales price affordable to a household whose income is no more than 60% of the Area Median Income] D. Commercial, Office, and Industrial (COI) Development. COI projects shall be subject to the affordable housing In lieu of paying the lower income fee as set forth in Chapter 17.40. In lieu of paying the affordable housing fee COI developments as defined in this chapter city Ordinance No. 1488, COI development may provide rental or for-sale affordable housing consistent with this chapter, and with the requirements of Section 17.40.060. A COI Docusign Envelope ID: 08C02E88-17AB-4968-82AD-8CC9C436D349