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7.2. Fiscal Impact of Including Assisted Living Unite in the Housing Cap Count Impact on a pmy~tiVe Aaaia39 The Initiative defines a housing unit to include any residences that have a kitchen (sink, cooking device, and refrigerator) and a bathroom (toilet, tub or shower). The statement of reasons section of the Initiative states that the Pleasanton definition of housing unit should be consisted with the U.S. Census Bureau and State of California definitions when calculating the housing cap. Staff looked at development plaened in the neat future that, depending upon this application of this definition, may trigger this section of the Initiative; the one project identified is the Continuing Life Care (CLC) project planned for the Staples Ranch PrnP~3'• CLC proposes to build 636 units that would include independent living units, villas and apattrnents. To date, the City Council has indicated that 240 of the 636 units would count towards the City's housing cap; however a final decision will not be made on that issue until Council considers the PUD development plan for the CLC facility. ht the meantime, for other purposes, staff has been counting 240 units from CLC towards the housing cap consistent with the Council's preliminary direction If, however, the Initiative were adopted and a11636 units were determined to fall within the Initiative's definition of a "housing unit" and count toward the City's housing cap, this would cause a reduction of an additional 396 units (that is, in addition to the 240 staff has been counting) in the number of future housing units that could be developed in the City under the housing cap. This would create a loss in annual net revenues to the City, as well as upfront capital few (development impact fees), as follows: Houslnp Unk Assumptlons: MuMl/amly Unltt't Floor Ana: Coat pat square foot: Estlmatsd Market Value: Parson Par HousahoW: m 900 square feat 5250 5225,000 2.0 3lnpla Famliy gKachsd UnNro 3,500 square test 5350 51,22a,ooo 3.0 (1) Based on Windsor Apartment Project 350 unit ranyiny from 578 square feat to 1,388 aquaro feet; of the 360 unNs 213 unib an ores bsdroorn/ons bath, 130 an taro bsd-comsAwo baths and 7 aro three bedroomsMres baths. (2) Based on fha Ironwood Protect 191 unib ranyirty from 1,450 aquaro feet to 3,091 aquae feet (3) Per State of CalHbmia Department of Flnanca as d January 1, 2008: 2.753 parsons per househod In Pleasanton. Pa U.3. Csnsw: owner axupied 2.87 parsons per household and rooter occupied 2.3 persons par ltousshoW. Per 1998 General Plan: 3.09 persons par aMpb famiy household and 2.05 peroons per multlhmily 's 71~e analysis Drily comiders the apptieation o[ the datloitioa of houriag unit ao ^ pmapective basis because the Initladw did not include speeitie lanpap about rotrweavity. 35