AgdaPkt 2015-10-26 Study and Joint SA PFA

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8.B. - Page 2 non-profit developments as part of a Request for Proposal process. The development proposals range from 60 to 137 units. Staff does not expect to reach the residential development cap within the next year. However, given the complex, lengthy process involved in financing and building affordable housing, staff is recommending that the Council initiate a DTPP amendment to reserve 10% of the overall residential allocation for affordable housing. This will allow the two above-mentioned projects to be considered under the first phase of the DTPP and associated Environmental Impact Report. Staff also expects that 1-2 additional affordable housing developments could be able to be built with the reserved allocation. ANALYSIS Approximately 68% (1705 units) of the units allowed under the DTPP residential development allocation have been approved or is pending consideration. Therefore, 795 units remain under the Maximum Allowable Development (MAD) limitations. Staff is aware of up to 157 affordable housing units that will soon be submitted (Habitat and Bradford projects). In order for the affordable housing development applicants to have some level of certainty that the projects will be considered under the first phase of the Downtown Precise Plan, staff is recommending that the Council initiate an amendment to the DTPP to reserve 10% of the residential MAD allocation for affordable housing. Staff is aware of continued affordable housing development interest in the downtown area, and this allocation would allow for 1-2 additional projects. This reservation would also be consistent with numerous policies in the City Housing Element, as well as recent policy direction given by Council. If the Council initiates the DTPP amendment, the following steps would be taken: 1. Community Development staff would work with the City Attorney's office on the revised language for the DTPP. 2. The DTPP amendment would be publicly noticed, and brought forward to the Planning Commission for consideration. 3. If recommended for approval by the Planning Commission, the DTPP amendment would be placed on a Council agenda for consideration. There public would also be notified about the Council meeting. 4. If approved by Council, the language would be incorporated into the Downtown Precise Plan and become law. It is expected that this DTPP amendment would be considered by Council in early 2016.