11 ATTACHMENT 7 - Laserfiche WebLink

Growth Management Allocations The Development Agreement exempts the Oak Grove development from the City's Growth Management Program (Chapter 17.36 of the Pleasanton Municipal Code). As permitted by the Development Agreement, the number of building permits that could be issued for Oak Grove would only be subject to the annual limitation established by the Pleasanton General Plan of 650 units. Housing Inclusionary Zoning Ordinance Pleasanton has an Inclusionary Zoning Ordinance, which establishes requirements for new residential projects related to the provision of affordable housing units within a proposed development. In lieu of providing on-site units, the Inclusionary Ordinance provides several alternatives to meet the inclusionary requirement: Off-Site Projects, Land Dedication, Credit Transfers, Alternate Methods of Compliance, and Lower Income Housing Fees. The City's lower income housing fee for single-family development is approximately $9,393 per unit. If an off-site option is used, the provisions in the Inclusionary Ordinance require that the affordable units be produced within five years, unless modified by the City Council. The plan is reviewed by the City's Housing Commission and is then memorialized in an Affordable Housing Agreement subject to the City Council's review and approval. As part of the review of Oak Grove, the applicant was required to propose a plan to meet the requirements of the Inclusionary Zoning Ordinance. The concepts of the plan, which will become part of the development agreement pending City Council approval, would include the following: ^ The developer would propose to build 20 affordable units at an off-site location which has yet to be determined. This represents 20 percent of the original 98 units as identified in the housing element. The 20 units would be affordable in perpetuity and would consist of five units at the very low income level, ten units at the low income level, and five units at the moderate income level. No decision has been made at this time as to whether the units would be ownership or rental. ^ In the event that the Lin family or their designees do not develop the units within five years from the approval of the proposed development agreement, the owner would pay the City's Lower Income Housing Fee for 51 units at the fee amount then in effect, and the opportunity to transfer the units would expire. California Government Code §65863 et seq California Government Code §65863 provides that Pleasanton cannot reduce the Oak Grove property's density from its holding capacity of 98 units as identified in the City's Housing Element, unless the City finds that the reduction will not result in a net loss of density citywide and that the City can still identify "adequate sites" for development pursuant to the housing element. As proposed with the attached development agreement, the 47 units that will not be built on the Oak Grove site would be constructed on a different site in the City. PUD-33 Page 19 of 59 June 13, 2007