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<br />As part of the developer's request to modify the unit mix, it also requested it be granted IUC's <br />for the 51 units that exceeded the 87 affordable units included in the Affordable Housing <br />Agreement as referenced in the approved PUD. At its meeting of May 6, 2003, the Council <br />directed this matter be reviewed by the Planning and Housing Commissions prior to <br />its taking action on the request. <br /> <br />The Commissions completed their review in June 2003 and the City Council reviewed this <br />matter again at its meeting of November 3, 2003, As an outcome of its review, <br />the Council continued a decision on the matter until it completed an overall review of the <br />Inclusionary Zoning Ordinance which was scheduled to take place as part of the General Plan <br />review process, This review occurred on June 23,2004 as part of a joint meeting between the <br />City Council and the Planning Commission and as an outcome of that review, the Council <br />adopted a resolution establishing guidelines (Attachment 3) for reviewing requests for IUC's, <br /> <br />With the completion of Council's review of IUC's, Ponderosa Homes has submitted a new <br />request (Attachment 2) to consider approving IUC's for its Busch property development. Its <br />current request can be summarized as follows: <br /> <br />. IUC's can be used only by Ponderosa Homes, or a subsidiary owned by a majority of <br />Ponderosa or exclusively by its Chairman, Kile Morgan, Jr., and cannot otherwise be <br />transferred. <br /> <br />. The priority is to use the IUC's on the 23-acre Busch site currently under option <br />with the Pleasanton Unified School District (PUSD), If the PUSD exercises its option, the <br />IUC's could be used on another site subject to a subsequent review by the Council, <br /> <br />. The IUC's will have a term of five years commencing from the date the PUSD either <br />closes escrow or terminates its option on the 23-acre site Busch site, <br /> <br />. Approve a total of 52 IUC's which would be applied in accordance with the following <br />ratios: <br />~ If used on a multi-family development: I IUC for each affordable unit required, <br />~ If used for a condo/townhome: 1,5 IUC's for each affordable unit required, <br />~ If used for a senior housing single family unit: 1.5 IUC's for each affordable unit <br />required, <br />~ If used for single-family housing: 21UC's for each affordable unit required. <br /> <br />SR:04:260 <br />Page 3 <br />