18 ATTACHMENT 09 - Laserfiche WebLink

THE CITY OF Housing Commission ` f �_ - a I,., Agenda Repprt LEASANTON© November 17 Item 05 2016 SUBJECT Recommendation for an Affordable Housing Agreement with Ponderosa II, Inc. for the Village at Valley Trails Development Located at 6900 Valley Trails Drive (PUD-113) RECOMMENDATION Review Staff's recommendation for the Village at Valley Trails Affordable Housing Agreement, review the additional information requested at the October 20, 2016 Housing Commission meeting and make a recommendation to City Council for consideration as part of the development's PUD approval process. ATTACHMENTS 1. October 20 HC Staff Report Item#06 and Draft Affordable Housing Agreement (AHA) 2. Planning Commission Workshop Minutes dated August 31, 2016 BACKGROUND Ponderosa Homes II, Inc. (the "Applicant") has submitted an application to develop 36 single- family homes on the approximately 9.0 acre site located at 6900 Valley Trails Drive (PUD-113), referred to as "The Village at Valley Trails" (the "Development"). Because this property exceeds the fifteen (15) unit threshold, it is subject to the City's 20% affordability requirement for very low, low, and/or moderate income households (i.e., provide 7.2 affordably priced units in the development), or to satisfy the requirement through an alternative means. The Applicant has proposed an alternative to on-site units and to satisfy the affordable housing requirement through payment of the affordable housing fee. The Applicant has proposed to pay the current Lower Income Housing Fee and to make an affordable housing contribution to the City that when combined with the LIHF would be equal to the maximum lower income housing fees, adjusted by unit size, which were identified in the Economic and Planning Systems Nexus Based Affordable Housing Fee Analysis report prepared for the City in 2013. That fee scale is reflected in the Affordable Housing Agreement (Attachment 1). The Housing Commission (HC) reviewed this item on October 20 and continued this item for further consideration with the request to receive additional information on the Valley Trails neighborhood's response to the development and other considerations. A summary of the concerns raised by the Commission regarding the proposed AHA included the following: ® The 2013 Nexus study fees do not reflect current 2016 housing market conditions. 0 The housing impact fee for the project should reflect updated market conditions and fees should be established at the time of building permit application. Page - 1 -