SR 06:052 - Laserfiche WebLink

The language proposed at the May 6 meeting for Section 11 was as follows: "Eight-seven (87) of the 138 Affordable units shall be deemed to meeting the full requirements of the City's Inclusionary Zoning Ordinance for the 363 units approved for the development. If the Owner develops additional units on the . . property noted in Exhibit B [Map of 23- acre site optioned to school district] fifty-one (51) of the 138 Affordable units may be applied to that additional development as meeting the requirements of the City's Inclusionary Zoning Ordinance. Subject to City approval, if the Owner develops other residential property within the City or if the Owner elects to transfer the credits to another party, up to fifty-one (51) of the 138 Affordable units may be applied to meeting the requirements of the City's Inclusionary Zoning Ordinance for such additional development(s). In no event shall the total available affordable credits for units developed on land as indicated in Exhibit B, off-site or transferred, exceed rnore then fifty-one (51) units." In addition to the matter of using credits for this particular development, the City Council also requested the Planning and Housing Commissions comment on retaining the concept of credits in the Inclusionary Zoning Ordinance. Since the May 6 council meeting, Council member Ayala recommended this matter be forwarded to the City-PUSD Liaison Committee for review at their meeting of September 18 to assure the Option Agreement between the District and Ponderosa regarding the purchase of the 23-acre site on the Busch Property was adequately drafted to offset any impacts regarding the application of credits on this site. At this meeting, the committee directed City and District staff to meet to further analyze any impacts and mitigations to offset these impacts. As an outcome of these meetings, the district, at its meeting of October 14, took action on this matter. The outcome of this meeting is addressed later in this report. Due to the City-PUSD Liaison Committee meeting and other activities regarding the application of credits, the developer has modified its proposal. As a result, this report identifies the most recent proposal by Ponderosa on this matter. The report forwarded to the City Council previously no longer reflects activity related to this item and as a result, it has been replaced with this report. DISCUSSION As indicated, the authority for the credits is found in section 17.44.080(c) of the Inclusionary Zoning Ordinance which allows a developer to receive "credits" on one development if another development has an amount of affordability that exceeds the minimum required amount. The use of these credits is subject to City Council approval that can be made at the SR:03 :308 Page 3