SR 06:116 - Laserfiche WebLink

Page 3 of9 would give rise to the fee and must be approved by the city council in offsetting otherwise required lower-income housing fees. B. For lower-income housing constructed on lands designated for other than residential development in the general plan as of the effective date of the ordinance codified in this chapter, the project developer shall be given a credit, for purposes of offsetting the lower- income housing fee otherwise required, in an amount established by separate city council resolution and which credit amount shall be set forth in the city's fees and charges appendix. C. For lower-income housing constructed on lands designated for residential development in the general plan as of the effective date of the ordinance codified in this chapter, for each lower-income housing unit constructed beyond fifteen percent of the residential development project, the project developer shall be given a credit for purposes of off-setting the lower-income housing fee otherwise required, in an amount established by separate city council resolution and which credit amount shall be set forth in the city's fees and charges appendix. D. In the event the lower-income housing constructed by the developer of a commercial, office or industrial development project creates an offset of the lower-income housing fee greater than the total fee required by the development project, the developer may apply the difference to other sites then owned by the developer. This transfer shall be so noted in the regulatory agreement accompanying the project. (Ord. 1488 ~ 1 (part), 1990) 17.40.070 Annual adjustment of the fee. The lower-income housing fee shall annually be revised effective January 1st of each year, commencing on January 1, 1992, by the percentage increase or decrease in the Consumer Price Index for San Francisco/Oakland region. (Ord. 1488 ~ 1 (part), 1990) 17.40.080 Establishment of lower-income housing fund. A. All fees generated pursuant to this chapter shall be deposited into the lower-income housing fund, and any property interest or other value contributed, including interest earned by the fund, shall be segregated and used exclusively for the purposes provided for herein. B. The city manager shall make a written annual report to the city council regarding the administration of the housing fund, and shall present such annual report at a regular meeting of the city council. C. Pursuant to Government Code Section 66000, et seq., the city shall make findings once each fiscal year with respect to any portion of the fees remaining unexpended or uncommitted in its account five or more years after the deposit of the fees to identify the purpose to which the fee is to be put and to demonstrate a reasonable relationship between the fee and the purpose for which it was charged. The findings required by this section need only be made for moneys in the possession of the city and need not be made with respect to letters of credit, bonds or other instruments taken to secure payment of the fee at a future date. D. Any refunds shall be made pursuant to Government Code Section 66001. (Ord. 1488 ~ 1 (part), 1990) http://66.113.195.234/CA/Pleasantonldocbar.htm 4/11/2006