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

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