11A - 2ND READ ORD - PIPELINE PROJECTS ONLY - HOUSING OPPORTUNITY ORD

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LS 9.10.15 (1) Parking Concession: one (1) on -site parking space for each 0 -1 bedroom unit; two (2) on -site parking spaces for each 2 -3 bedroom unit; 2'/2 parking spaces for each 4 or more bedroom unit. (2) Concession on one of the following Zoning Code site development standards: (i) Setback reduction of up to 25% reduction on subject property; (ii) Height increase of up to 20 additional feet; (iii) Density Bonus such that: a) An applicant must select only one housing affordability income level to merit a density bonus. A combination of affordable housing income levels is not permitted to be combined to increase the amount of density bonus. b) For each 1 percent increase above 15 percent in the percentage of units affordable to low income households, the density bonus shall be increased by 1.5 percent up to a maximum of 35 percent. c) For each 1 percent increase above 10 percent in the percentage of units affordable to very low income households, the density bonus shall be increased by 2.5 percent up to a maximum of 35 percent. Sec. 41 -1910. Administrative (a) In -Lieu Fee Calculation. The amount per square foot of the inclusionary housing in- lieu fee shall be subject to City Council review and consideration before the end of calendar year 2018, but after June 30, 2018. Between July 1, 2018 and December 31, 2018, staff shall report on the effectiveness of this ordinance and provide options for Council consideration on the components of this ordinance, including, but not limited to, the monetary amount of inclusionary in -lieu fee per square foot. (b) Pipeline Projects. The applicant(s) of any project for which a site plan review application was submitted and such application was deemed complete prior to August 4, 2015 may either construct the inclusionary units pursuant to the prior Housing Opportunity Ordinance (Ordinance No. NS -2825) or pay an in lieu fee calculated by the formula under the prior Housing Opportunity Ordinance (Ordinance No. NS -2825) or request to revise its Inclusionary Housing Plan and /or Inclusionary Housing Agreement and pay an in -lieu fee of $9.35 per square foot of habitable space for the entire Project's inclusionary housing obligation. (c) Administration Fees. The Council may by resolution establish reasonable fees and deposits for the administration of this Article including an annual monitoring fee and an Inclusionary Housing Plan Submittal fee. Ordinance No. 2015 -XXX Page 3 of 5 11 A -5