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ORDINANCE 2227 <br />ORDINANCE OF THE TOWN OF LOS GATOS <br />APPLYING THE AFFORDABLE HOUSING OVERLAY TO THE <br />PROPERTY LOCATED AT 50 LOS GATOS SARATOGA ROAD <br />(APN: 529 -24 -001) <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 <br />of 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 <br />residential uses. Factors to consider include physical features (e.g. susceptibility to flooding, slope <br />instability or erosion, or environmental considerations) and location (proximity to transit, job centers, <br />and public or community services). Land suitable for residential development includes all of the <br />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 <br />(via program actions). <br />WHEREAS, during the housing element update in 2010, the Town identified approximately <br />40 parcels, and through extensive review with the General Plan Committee, narrowed the list to five <br />properties that possessed the physical and location character that most closely aligned with state <br />housing law suitable land criteria; and <br />