RES 98140 - Laserfiche WebLink

Exhibit "A" FINDINGS SUPPORTING INCREASE OF THE LOWER INCOME HOUSING FEE 1. The City Council finds that as a result of LcreasLg regional growth in the San Francisco - Bay Area, significant residential, commercial and industrial development is expected to occur within the City of Pleasanton between now and build-out. This anticipated development, LcludLg development currenfiy approved or submitted for approval, cumulatively will generate an Lcrease L demand for affordable' housing (e.g. housing affordable to persons of low- and moderate-Lcome) by the employees of the new commercial, office and Ldustrial development; as well as the loss of land available for development of affordable housing due to the production of market rate housing. 2. The City Council further fmds that historic and current development patterns indicate that regional affordable housing needs will not be met by private enterprise acting alone. 3. Unless actions are taken, the above factors will result in adverse impacts such as: persons employed within the City not able to afford homes within the City, requiring commutes from outlyLg areas; increased traffic from commuters; and businesses discouraged from locating in the City because of lack of affordable housing for workers. To prevent these undesirable consequences, affordable housing must be provided at a rate which will accommodate the expected growth L the City. 4. The City has been taking action to begin to address these potential negative impacts. The City's General Plan HousLg Element Policy 10 requires that "... each residential and non-residential project [is] to include its pro-rata share of low-income housing . .. or to conlribute an L-lieu fee to the lower-income housing fund to facilitate the construction of low-income housLg." The lower Leome housing fee provides developers with flexibility to pay a fee Lstead of actually providLg affordable units on site. This is appropriate where commercial, office and Ldustdal developers do not have sites suitable for residential development. 5. The City Council acknowledges that the proposed Lower Income HousLg Fee does not attempt to address the City's cumulative shortfall of affordable units, but is based upon the shortfall which will be created by new development. 6. In the absence of Lcreasing the Lower Income Housing Fee, the projected revenue from the existing fee revenue will be inadequate to fund the necessary affordable housing units to meet the demand generated by new development. ~5