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ORDINANCE 2225 <br />AN ORDINANCE OF THE TOWN OF LOS GATOS <br />APPLYING THE AFFORDABLE HOUSING OVERLAY TO THE <br />PROPERTY LOCATED AT 110, 120, 130, 140, and 150 KNOWLES DRIVE <br />(APN: 424 -32 -077) <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 for the <br />state; <br />WHEREAS, as a principal component of the housing element, Government Code Section <br />65583(a)(3) requires local governments to prepare an inventory of land suitable for residential <br />development, including vacant sites and sites having the potential for redevelopment, and an analysis of <br />the relationship of zoning and public facilities and services to these sites; <br />WHEREAS, pursuant to state housing law, in developing the inventory of suitable lands, the <br />housing element shall include specific sites or parcels that are available and appropriate for residential <br />uses. Factors to consider include physical features (e.g. susceptibility to flooding, slope instability or <br />erosion, or environmental considerations) and location (proximity to transit, job centers, and public or <br />community services). Land suitable for residential development includes all of the following: <br />• vacant residentially zoned sites; <br />• vacant non - residentially zoned sites that allow residential development; <br />• underutilized residentially zoned sites capable of being developed at a higher density or with <br />greater intensity; and <br />• non - residentially zoned sites that can be redeveloped for, and/or rezoned for, residential use (via <br />program actions); <br />WHEREAS, during the housing element update in 2010, the Town identified approximately 40 <br />