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<br />ATTY/RESO.0041/PC RESO AMENDING ZONING ORDINANCE – AFFORDABLE HOUSING <br />REV: 05-30-23 SK <br />Page 19 of 25 <br />29.6 (Standards for Affordable Housing), the review authority may approve such a <br />proposal if it finds the proposal meets all of the following conditions: <br /> <br />1. Financing or a viable financing plan, which may include public funding <br />sources, is in place for the proposed affordable housing units; and <br /> <br />2. The proposed location must beis suitable for the proposed affordable <br />housing, allow residential uses, accommodate the required affordable units, <br />must be is consistent with the Housing Element, general plan, and zoning, <br />and shouldwill not cause or exacerbate residential segregation; and <br /> <br />3. Any affordable rental or for-sale units proposed as an alternative to the <br />payment of the housing impact fee shall be subject to the requirements <br />described in Section 29.6 (Standards for Affordable Housing). <br /> <br />D. Alternatives to the Standards for Affordable Housing. The City may consider <br />alternatives to the requirements under Section 29.6 (Standards for Affordable <br />Housing) and the review authority may approve such a proposal. <br /> <br />1. As an alternative to Section 29.6(B) (Availability for Occupancy), the City <br />may require, in-lieu of concurrent occupancy of the market-rate residential <br />units and/or the non-residential nonresidential development project and the <br />required affordable housing units, that the developer be allowed to obtain a <br />certificate of occupancy (including a temporary certificate of occupancy) for <br />the market-rate residential units and/or the non-residential nonresidential <br />development project so long as concurrently with the issuance of the <br />certificate of occupancy (including a temporary certificate of occupancy) for <br />the market-rate residential units and/or the nonresidential development <br />project, the completion of the affordable units is secured by the developer <br />through an agreement under which the developer provides a completion <br />guaranty for the construction of the affordable units and also agrees to pay <br />a deposit or provide a letter of credit in the amount of the affordable housing <br />impact fee and/or the in-lieu fee in the amount due under Section 29.5 <br />calculated based on the amount of the fees due on the date the entitlements <br />for the market-rate residential units and/or the nonresidential development <br />project were approved; or agrees to provide some other alternative mean of <br />compliance allowed under the Affordable Housing Guidelines. Upon written <br />request by the developer, the City, in the Community Development <br />Director's reasonable discretion, shall release a portion or all of the deposit <br />upon the completion of construction milestones for the affordable units <br />identified in the Affordable Housing Guidelines. The City shall release the <br />completion guaranty at the time the certificate of occupancy (including a <br />temporary certificate of occupancy) for the affordable units has been issued. <br />The City shall release all of the deposit and the completion guaranty at the <br />issuance of the building permit for the affordable units if the developer of the <br />affordable units provides the City with evidence that: (i) the developer holds