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Ordinance No. <br />Page 14 of 32 <br />P24-0505, Pleasanton Municipal Code Amendments City Council, November 17, 2024 <br />Exhibit A, PMC Amendments, Page 14 <br />2 bedroom unit 3 persons <br />3 bedroom unit 4 persons <br />4 or more bedroom unit 5 or more persons <br />L.The city's adopted preference and priority system shall be used for determining <br />eligibility among prospective beneficiaries for affordable housing units created <br />through this inclusionary zoning ordinance. <br />(Ord. 1818 § 1, 2000) <br />§ 17.44.060. Affordable housing agreement. <br />An affordable housing agreement shall be entered into by the city and the project owner. The <br />agreement shall record the method and terms by which a project owner shall comply with the <br />requirements of this chapter. The approval and/or recordation of this agreement shall take <br />place prior to final map approval or, where a map is not being processed, prior to the issuance <br />of building permits for such lots or units. <br />The affordable housing agreement shall state the methodology for determining a unit's initial <br />and ongoing rent or sales and resale price(s), any resale restrictions, occupancy requirements, <br />eligibility requirements, city incentives including second mortgages, recapture mechanisms, <br />the administrative process for monitoring unit management to assure ongoing affordability and <br />other matters related to the development and retention of the inclusionary units. <br />In addition to the above, the affordable housing agreement shall set forth any waiver of the <br />affordable lower income housing fee. For projects which meet the affordability threshold with <br />very low and/or low-income units, all units in the project shall be eligible for a waiver of the <br />affordablelower income housing fee. For single-family ownership residential projects which <br />meet the affordability threshold with moderate income units, or multiple-family residential <br />projects which do not meet the affordability threshold, only the inclusionary units shall be <br />eligible for a waiver of the affordable lower income housing fee except as otherwise approved <br />by the city council. <br />To assure affordability in accordance with the terms of this chapter and over the life of the unit <br />(i.e. in perpetuity), the affordable housing agreement shall be recorded with the property deed <br />or other method approved by the city attorney. In the event an inclusionary unit is affordable <br />by design the affordable housing agreement shall stipulate the method for assuring that the <br />units retain their affordability as the housing market changes. <br />The community development director may waive the requirement for an affordable housing <br />agreement for projects approved prior to the effective hereof and/or for projects that have their <br />affordable housing requirements included in a development agreement or other city document. <br />(Ord. 1818 § 1, 2000; Ord. 2000 § 1, 2009) <br />If a project is permitted to pay the affordable housing fee to meet the requirements of this <br />Chapter, pursuant to Sections 17.44.040.D, 17.44.040.E, or Section 17.44.080, an affordable <br />housing agreement shall not be required. In the case of approval pursuant to Section 17.44.080, <br />such provision shall be includedreflected in a resolution for approval adopted by city council. <br />Page 63 of 658