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ORDINANCE 2224 <br />ORDINANCE OF THE TOWN OF LOS GATOS <br />AMENDING CHAPTER 29 OF THE TOWN CODE BY ADDING DIVISION 5 TO <br />ARTICLE VIII OF THE LOS GATOS TOWN CODE ENTITLED "AFFORDABLE <br />HOUSING OVERLAY ZONE" AND DESIGNATING FIVE SITES TO WHICH THE <br />AFFORDABLE HOUSING OVERLAY SHALL BE APPLIED AND ADOPTING <br />IMPLEMENTING REGULATIONS <br />A -12 -003 <br />WHEREAS, the State of California requires each city and county to update their housing <br />elements on a regular cycle and plan for meeting their fair share of the regional housing needs <br />for the state; <br />WHEREAS, the Town's oversight committee, the General Plan Committee, developed <br />the Housing Element over a two year period from 2009 to 2010; <br />WHEREAS, the Town Council of the Town of Los Gatos adopted the 2007 - 2014 <br />Housing Element by Resolution 2012 -008; <br />WHEREAS, the State Department of Housing and Community Development has <br />certified the Town of Los Gatos 2007 — 14 Housing Element as meeting state housing law; <br />WHEREAS, the Housing Element Action Item HOU -2.1 calls for the establishment of <br />an Affordable Housing Overlay Zone (AHOZ) as the principal means for meeting the Town's <br />regional share of housing needs allocation (RHNA) for persons and families of low and moderate <br />income; <br />WHEREAS, five key properties were identified for the AHOZ designation. The five <br />sites are contained in the Town's Housing Element Technical Appendix Table 6 -1, Chapter 6 and <br />are adopted by separated ordinances; <br />WHEREAS, the AHOZ encourages the development of affordable housing through <br />development standard adjustments, fee deferrals or waivers, concessions, appropriate densities, <br />and priority permit processing; <br />1 <br />