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WHEREAS, the State of California Housing and Community Development (HCD) encourages affordable housing to remain deed restricted for 45 years for single family residences and 55 years or longer for multi-family projects and by affordability covenants recorded on the property; and WHEREAS, the TVTC waives the TVTD fee for all very low, low and moderate income affordable housing units meeting the applicable State of California Health and Safety Code Sections requirements and having a minimum affordability term of 55 years (multi-family) and 45 years (single family) based on the percentage of affordable housing units to the total number of units in the project; and WHEREAS, the Joint Exercise of Powers Agreement specifies that the Fee amounts aze to be adjusted automatically on an annual basis to reflect changes in regional construction costs. The amount of the adjustment is based on the changes in the "Construction Cost Index" (CCI) for the San Francisco Bay Area, as reported annually in the Engineering News Record (ENR); WHEREAS, for the purposes of CEQA, the Council finds that the adoption of the TVTD fee is not a "project" under CEQA Guidelines section 15378(b)(4). While the TVTD fee is intended to offset development impacts on regional traffic facilities by funding improvements to those facilities, the proceeds of the TVTD fee aze not, at this time, being committed to any specific project which "may result in a potentially significant physical impact on the environment"; NOW THEREFORE, BE IT RESOLVED, that the development fees directed by the TVTC to be collected will be collected from any development within the jurisdiction of the City of Dublin that will be granted a Land Use Entitlement. BE IT FURTHER RESOLVED, that the City of Dublin recommends that the TVTC project funding priorities be consistent with the regional priorities established by the Congestion Management Agency's Tri-Valley Triangle Study. PASSED, APPROVED AND ADOPTED this 7th day of October, 2008, by the following vote: AYES: NOES: ABSENT: ABSTAIN: Mayor ATTEST: City Clerk G:\TRANSPORTATIOMRegional\TVTC\reso_T V TDF_Update_Approval_Revised.doc -3-