Ord 2224 - Amending Chapter 29 be adding Division 5 to Article VIII entitled "Affordable Housing Overlay Zone

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WHEREAS, in order to be eligible for the benefits of the AHOZ, the application must meet the intent of the AHOZ and the affordability ratios contained in this ordinance; WHEREAS, for each of the five properties where the AHOZ will be applied, the property owner may develop consistent with the AHOZ standards and regulations contained in this ordinance or in the manner provided by the underlying zoning of each site, but not both; WHEREAS, the Town's General Plan Committee considered the AHOZ goal, development standards, and concessions during 11 publically noticed meetings that occurred between November 2011 and August 2012 and ultimately recommended approval to the Planning Commission and Town Council; and WHEREAS, on January 22, 2013, the Town Council directed the General Plan Committee to re- consider the original list of 41 AHOZ sites for AHOZ designation; and WHEREAS, the General Plan Committee held seven additional publicly noticed meetings from February 27, 2013 to September 25, 2013, to review and select new AHOZ sites, revised Design Guidelines and associated development criteria; and WHEREAS, the General Plan Committee received extensive public testimony from Town residents, property owners, and the general public regarding the potential AHOZ sites and appropriate development criteria; and WHEREAS, the proposed ordinance reflects the recommendations of the General Plan Committee to the Planning Commission and Town Council; and M1 UMBU M2106Zo11Jffitwelm "MES IJ1 colarellue- VUE8I.1 A)"D AI11� M- IMSIVESMIS SECTION I Chapter 29, Article VIII, Division 5, entitled "Affordable Housing Overlay Zone" is hereby added to the Los Gatos Town Code, and shall read as follows: 2