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Ordinance No. <br />Page 10 of 32 <br /> <br />P24-0505, Pleasanton Municipal Code Amendments City Council, November 17, 2024 <br />Exhibit A, PMC Amendments, Page 10 <br />households. These dwelling units shall be referred to as "Inclusionary Units". <br />Special consideration will be given to projects in which a significant percentage <br />of the inclusionary units are for very low and low income households. The <br />specific mix of units within the three affordability categories shall be subject to <br />approval by the city. <br /> <br />The inclusionary units shall be reserved for rent or purchase by eligible very low, low, <br />and moderate income households, as applicable. Projects subject to these requirements <br />include, but are not limited to, single-family detached dwellings, townhomes, <br />apartments, condominiums, or cooperatives provided through new construction <br />projects, and/or through conversion of rentals to ownership units. <br />The percentage of inclusionary units required for a particular project shall be <br />determined only once on a given project, at the time of tentative map approval, <br />or, for projects not processing a map, prior to issuance of building permit. If the <br />projectsubdivision design changes, which results in a change in the number of <br />inclusionary unitsunit types required, the number of inclusionary units required <br />shall be recalculated to coincide with the final approved project. In applying and <br />calculating the number of inclusionary units required based on the specified <br />percentage15 percent requirement, any decimal fraction less than or equal to <br />0.50 may be disregarded, and any decimal fraction greater than 0.50 shall be <br />construed as one unit. <br /> <br />B. Residential For-Sale Projects. For all new for-sale residential project, and where <br />the project would include 10 residential units or more, at least fifteen (15) percent <br />of the project's dwelling units shall be affordable to very-low, low- or moderate- <br />income households as specified. These units shall be referred to as “Inclusionary <br />Units.” The applicant shall not be prohibited from deepening the level of <br />affordability in the project listed in subsection 1 below. The Inclusionary Units <br />shall be reserved for purchase by eligible households, in the following <br />proportions. The applicant shall not be prohibited from deepening the level of <br />affordability in the project: <br />1. 100 percent of the inclusionary units at a sales price affordable to a <br />household whose income is no more than 120% of the Area Median <br />Income. <br /> <br />C. Residential Rental Projects. For all new residential rental projects, including <br />where the rental units are part of a mixed use projects, and where the project <br />would include 10 residential units or more, at least 15 percent of the project’s <br />dwelling units shall be affordable to very-low [and/] or low-income households <br />as specified. These units shall be referred to as “Inclusionary Units.” The <br />applicant is not precluded from deepening the level of affordability in the project <br />listed in subsection 1 and 2 below. The Inclusionary Units shall be reserved for <br />rent to eligible households within each income category as specified, in the <br />following proportions. The applicant is not precluded from deepening the level of <br />affordability in the project: <br />Page 59 of 658