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project, with accuracy, the magnitude and extent of future development based <br /> upon the City's General Plan at projected build-out. <br /> <br /> F. The City has estimated that 5,415 additional residential umts will be provided <br /> until build-out in 2018. Pursuant to General Plan Policy 6, 15% of those units <br /> are required to be affordable, for a total need of 812 affordable units <br /> generated by new development until build-out. <br /> <br /> G. The cost of providing 8 12 affordable units is allocated to new residential <br /> development, as well as to new commercial, office, and industrial <br /> development pursuant to the formula set forth in the Technical Report. The <br /> City Council finds that the rationale for the allocation of the costs among the <br /> different types of land uses is fair and reasonable based, in pan. upon the <br /> following: (1) the amount of undeveloped land utilized by market-rate <br /> detached single family units is generally greater than the area utilized by <br /> market-rate multi-family units; (2) market-rate multi-family units have a <br /> greater probability of providing affordable housing because of their smaller <br /> size; (3) not all the employees of commercial, office, and industrial <br /> development are expected to desire to live and work in the City; (4) not all the <br /> employees of commercial, office, and industrial development are single wage <br /> earners, and an additional wage earner in the family will make the family not <br /> require affordable housing; and (5) a developer may develop some affordable <br /> units without assistance from the City's Lower Income Housing Fund. <br /> <br /> H. While the City is committed and will continue to pursue all available sources <br /> of funds to construct affordable housing, it acknowledges that based upon the <br /> subsidy estimates, sufficient funding is not available absent an increase in the <br /> Lower Income Housing Fee to support the impacts generated by new <br /> development. <br /> <br />9. The affordable housing which will be constructed with funds generated by the <br />Lower Income Housing Fee will significantly benefit the conlributor by substantially <br />mitigating adverse impacts, such as: persons employed within the City not able to afford <br />homes within the City; requiring commutes from outlying areas; increased traffic from <br />commuters; and businesses discouraged from locating in the City because 'of lack of <br />affordable housing for workers. <br /> <br /> 4~ <br /> <br /> <br />