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<br />.-.t. <br /> <br />. <br /> <br />ATTACHMENT 5 <br /> <br /> <br />- <br /> <br />pLEASANTONo <br /> <br />City CoUncil <br />Staff Report <br /> <br />November 2, 2004 <br />Deputy City Manager <br /> <br />SUBJECT <br /> <br />REQUEST OF PONDEROSA HOMES FOR AN ALLOCATION OF <br />INCLUSIONARY UNIT CREDITS (lUC's) IN CONNECTION <br />WITH THE I72-UNlTS SENIOR APARTMENT DEVELOPMENT <br />APPROVED PREVIOUSLY ON THE BUSCH PROPERTY. <br /> <br />STAFF RECOMMENDATION: <br /> <br />Approve Amendment #1 to the Affordable Housing Agreement <br />(Attachment 1) for the Ponderosa Senior Apartments (now called the <br />Gardens at Ironwood) located on the Busch property, authorizing the use <br />of 51 IUC's to meet the IncIusionary Zoning Ordinance's affordable unit <br />requirements for future development on other portions of the Busch <br />property , <br /> <br />PLANNING AND HOUSING COMMISSION RECOMMENDATIONS: <br /> <br />The Housing Commission reviewed this matter at its meeting of June 19, <br />2003. The Planning Commission reviewed this matter at its meeting of <br />June 25, 2003, Both Commissions recommended an amendment to the <br />Affordable Housing Agreement allowing on and off-site lUC's. <br />However, their action occurred prior to the adoption of a resolution <br />establishing guidelines for reviewing requests for IUC's, Nevertheless, <br />based on comments received during the review of the Guidelines, staff <br />assumes both Commissions continue to support IUC's for this project. <br /> <br />SUMMARY <br /> <br />This report concerns a request from Ponderosa Homes for mc's in <br />accordance with Section 17.44.080 of the City's IncIusionary Zoning <br />Ordinance which reads "In the event a project exceeds the total number of <br />Inclusionary Units required in this Chapter, the Project Owner may request <br /> <br />SR:04:260 <br />Page 1 <br />