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<br />ATTACHMENT B <br /> <br />C. Credit Transfers <br /> <br />In the event a project exceeds the total number ofInclusionary Units required in this <br />Chapter, the Project Owner may request Inclusionary Unit Credits which may be used to <br />meet the affordable housing requirements of another project. Inclusionary Unit Credits <br />are issued to and become the possession of the Project Owner and may not be transferred <br />to another Project Owner without approval by the City Council. The number of <br />Inclusionary Unit Credits awarded for any project is subject to approval by the City <br />Council. <br /> <br />D. Alternate Methods of Compliance <br /> <br />Applicants may propose creative concepts for meeting the requirements of this Chapter, <br />in order to bring down the cost of providing Inclusionary Units, whether on or off site. <br />The City Council may approve alternate methods of compliance with this Chapter if the <br />Applicant demonstrates that such alternate method meets the purpose of this Chapter (as <br />set forth in Section 17.44.020). <br /> <br />E. Lower Income Housing Fee Option <br /> <br />In lieu of providing Inclusionary Units in a project, an applicant may pay the City's <br />Lower Income Housing Fee as set forth in Chapter 17.40 ofthe Municipal Code. <br /> <br />ARTICLE III -- MISCELLANEOUS <br /> <br />Section 17.44.090. Administration <br /> <br />An applicant of a project subject to this Chapter shall submit an Affordable Housing <br />Proposal stating the method by which it will meet the requirements ofthis Chapter. The <br />Affordable Housing Proposal shall be submitted as part of the applicant's City <br />development application (e.g., design review, Planned Unit Development, etc.) to the <br />Planning Department in a form approved by the City Manager. The Director of Planning <br />and Community Development may waive the requirement for submittal of an Affordable <br />Housing Proposal for projects approved prior to the effective date of this ordinance <br />and/or for projects that have undergone considerable public review during which <br />affordable housing issues were addressed. <br /> <br />The Affordable Housing Proposal shall be reviewed by the City's Housing Commission <br />at a properly noticed meeting open to the public. The Housing Commission shall make <br />recommendations to the City Council either accepting, rejecting or modifYing the <br />developer's proposal and the utilization of any incentives as outlined in this Chapter. <br /> <br />Page 11 of 13 <br />