SR 06:116 - Laserfiche WebLink

Page 5 of9 (ii) Projects Selected Through the Affordable Housing Competition - The affordable housing competition shall be that program, or series of programs, authorized by the City Council by Resolution No. 81-287 to provide an incentive for developers to construct such housing. Once selected, the project(s) would be exempt from the Growth Management development approval process. (iii) Lower-Income Housing Developments. Lower-income housing projects are those sponsored by any person or organization having a minimum of twenty-five percent (25%) of its units reserved for households qualifying for federal lower-income housing assistance as defined by HUD for the Bay Area region. Units must be reserved for lower- income households for a period of at least fifteen (15) years. HUD regulations concerning the qualification of households as lower-income, the size of unit in relation to household size, and all other rules and regulations except for rent shall govern those units set aside for lower-income households. Rent for lower-income households shall be no more than an amount equal to thirty percent (30%) multiplied by the lower-income limit of the Bay Area median income for the maximum sized household capable of occupying the unit, as determined from time to time by HUD regulations. For instance, using present HUD regulations, rent for a two bedroom unit could be set up to, but not exceeding, 30% of 80% of the Bay Area median income for a household offour. Units designated for lower- income households shall be of comparable size and quality as other units in the project. Projects meeting the above criteria are eligible to request exemption from the Growth Management development approval process and to use the units set aside for such projects. The City Council may approve lower-income projects up to the number of units in the set-aside and may include anticipated future allocations. A project containing both lower-income units and market rate units shall be approved in its entirety. Only lower- income units shall count toward the lower-income set-aside. The ten percent allocation shall carry over from year to year. (iv) Fifty (50) Unit Exemption. Projects which meet the following criteria shall be exempt projects within the meaning of PMC Section 17.36.040A9: A. There are fifty (50) or less units in the project; B. Maximum of one exemption per calendar year for entire City; C. The City Council finds that conditions of approval of the project adequately address the public needs and cumulative effects created by the project. In making this determination, the City Council shall consider cumulative effects of the proposed project taken together with past and anticipated future projects, including particularly anticipated projects in the vicinity by the same developer; D. The project developers shall purchase a commitment for 25% of its units from the current mortgage revenue bond program sponsored by the City. (b) Other Requirements of Exempt Projects. In order to develop, exempt projects are required to meet the following requirements: (i) $525 per dwelling unit fee to the Capital Improvement Fund. (ii) $400 per dwelling unit fee to the Lower-Income Housing Fund. Dwelling units actually designated as lower-income units pursuant to subsection (a)(iii) http://66.113.195.234/CA/Pleasanton/docbar.htm 4/11/2006