Laserfiche WebLink
Pleasanton Comprehensive Fee Update and Nexus Study November 2024 <br /> <br /> 46 <br />affordable rates tends to be greater for ownership units, therefore the affordability <br />level for these units is set at Moderate-income (120% AMI). For rental units, the <br />affordable units will be evenly split between Very Low-income and Low-income <br />households (50% and 60% AMI, respectively). <br />Table 27 Inclusionary Housing Requirements <br /> <br />Methodology <br />To calculate the subsidy needed to support the development of affordable units, EPS <br />developed several residential prototypes to determine their respective development <br />costs and estimated anticipated revenues. <br />Housing Prototypes <br />The prototype residential products used in the feasibility analysis were informed by <br />EPS research on the local housing market. Research included review of recent <br />developments and proposed projects, discussions with developers active in the region, <br />and discussions with City staff. The chosen prototypes include one rental prototype – <br />podium multifamily apartments - and three for-sale prototypes – condominiums, <br />townhomes, and single-family detached homes. <br />The critical differentiator between the for-sale prototypes is the density at which they <br />are built and how parking is provided, with the condominium product assumed to be <br />built at a higher density (45 units per acre) than the townhome product (20 units per <br />acre) and with wrap-around style parking. The townhome product is assumed to <br />include an attached, “tuck-under” garage. The single-family detached product is <br />assumed to be developed at an even lower density (5 units per acre) and with an <br />attached garage. The analysis also assumes that the prototypical townhome is smaller <br />than the prototypical single-family home. In some cases, there may be additional <br />design factors – such as whether a unit is detached or attached – that are used to <br />define a project as a townhome or single-family home. This analysis does not account <br />for those types of factors, only differentiating the two prototypes based on density, <br />parking, and unit size. <br />Overall <br />V ery Low Income <br />(50% of AMI) <br />Low Income <br />(60% of AMI) <br />Moderate Income <br />(120% of AMI) <br />Ownership 15% 0% 0% 15% <br />Rental 15% 7.5% 7.5% 0% <br />Source: City of Pleasanton <br />Page 107 of 893