75B - PH - ZONING ORDN AMENDMENT

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Zoning Ordinance Amendment No. 2011-01 September 26, 2011 Page 8 The disadvantage to using the market based approach is that it requires developers to provide more information to the city regarding anticipated sales prices or lease rates. However, given that the developer would be requesting a deviation from the requirement to provide the housing as part of the project, and must also show financial justification as to why it would be infeasible to do so, the provision of the project's economic information would be required in any case. Upon careful review of all of the policy implications of the fixed fee vs. the market based methodology, staff recommends the approach contained in the proposed ordinance of a market based methodology. Community Redevelopment and Housing Commission On April 5, 2011, staff presented the Housing Opportunity Ordinance to the Community Redevelopment and Housing Commission. The item allowed staff to walk the Commission through the ordinance and answer questions. The Commission approved the recommendation to receive and file. Public Outreach and Notification During the process of drafting the Housing Opportunity Ordinance an Advisory Committee was established comprised of stakeholders representing a variety of interests including market rate and affordable housing developers, affordable housing advocates, members of the real estate community and property owners within the Transit Zoning Code, as well as the Housing Element's housing opportunity sites. Those participating on the Committee included the following: Lyon Capital Ventures, Building Industry Association-Orange County, Kennedy Commission, CB Richard Ellis, and individual property owners representing the Transit Zoning Code Industrial Overlay, and the Harbor Boulevard and First Street corridors. Two meetings took place on September 16, 2010 and September 30, 2010. In both meetings, staff provided a presentation, updates and discussion with the committee members. The Committee's input played a vital role in drafting the Ordinance. In addition to these meetings, written comments were received from the Building Industry Association, and property owners Michael Madzoeff and Mike Tardif outlining a variety of questions and suggestions. All correspondences were given a written response and many of the suggestions or clarification items resulted in modifications to the proposed ordinance. In addition to the Advisory Committee discussions, staff has had the opportunity to discuss and answer questions at neighborhood and group meetings on the proposed ordinance. Those meetings included one-on-one conversations with individual members of the community at the Harbor Boulevard Community Workshop in December 2010 and the Santa Anita neighborhood meeting in March 2011. On January 18, 2011 a study session was conducted with the City Council to outline the proposed ordinance and process. Staff presented an update on the Housing Element efforts and also discussed the Housing Opportunity Ordinance. On March 14, 2011 a study session was 75B-10