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Zoning Ordinance Amendment No. 2011-01 <br />September 26, 2011 <br />Page 5 <br />Residential Project that propose the creation of five or more residential units through a subdivision, <br />new construction, or conversion from apartment to condominium ownership; it will be subject to the <br />proposed ordinance requirements. The following is a summary of the ordinance: <br />• Fifteen percent of the total number of units must be affordable, whether the project is for sale or <br />rental <br />• Alternatives to meet ordinance <br />o Construct income restricted units on-site <br />o Construct income restricted or substantially rehabilitate units off-site <br />o Under unique circumstances, pay a fee in lieu of construction or rehabilitation <br />• Standards <br />o Disperse units throughout project <br />o Similar number of bedrooms as market-rate units <br />o Comparable design, materials, quality and appearance <br />o Same access to site amenities <br />• Restriction <br />o For sale - 45 years <br />o Rental - 55 years <br />• Submittal of Housing Inclusionary Plan and Housing Agreement <br />The complete draft ordinance is attached as Exhibit 1. <br />Plannina Commission Review <br />On March 14, 2011 the Planning Commission held a Study Session to discuss and provide input on <br />the draft ordinance. Members of the citizen advisory committee were also present at the Study <br />Session to provide their input and comments. <br />On March 28, 2011, the Planning Commission conducted a public hearing to consider the adoption <br />of the Housing Opportunity Ordinance (ZOA 2011-01). During the hearing 10 members of the <br />public provided oral or written testimony regarding the adoption of the proposed ordinance. Their <br />comments ranged from support for the ordinance, to concerns that adequate notice of the public <br />hearing had not been provided and that the ordinance would result in a change to the current zoning <br />of their property. Following the public hearing, the Planning Commission continued the item in order <br />to allow staff time to allow further clarification on the portion of the ordinance related to the <br />calculation of an in-lieu fee, as well as additional public notice. <br />75B-7