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Exhibit 3 of Attachment 1ORDINANCE NO. AN ORDINANCE OF THE TOWN OF LOS GATOS APPLYING THE AFFORDABLE HOUSING OVERLAY TO THE PROPERTY LOCATED AT 110, 120,130,140, and 150 ICM1'OWLES DRIVE (APN: 424 -32 -077) 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, as a principal component of the housing element, Government Code Section 65583(a)(3) requires local governments to prepare an inventory of land suitable for residential development, including vacant sites and sites having the potential for redevelopment, and an analysis of the relationship of zoning and public facilities and services to these sites; WHEREAS, pursuant to state housing law, in developing the inventory of suitable lands, the housing element shall include specific sites or parcels that are available and appropriate for residential uses. Factors to consider include physical features (e.g. susceptibility to flooding, slope instability or erosion, or environmental considerations) and location (proximity to transit, job centers, and public or community services). Land suitable for residential development includes all of the following: • vacant residentially zoned sites; • vacant non - residentially zoned sites that allow residential development; • underutilized residentially zoned sites capable of being developed at a higher density or with greater intensity; and • non- residentially zoned sites that can be redeveloped for, and /or rezoned for, residential use (via program actions); EXHIBIT 3 ATTACHMENT 1 WHEREAS, during the housing element update in 2010, the Town identified approximately 40 parcels, and through extensive review with the General Plan Committee, narrowed the list to five properties that possessed the physical and location character that most closely aligned with state housing law suitable land criteria; and WHEREAS, the Southbay Development property was selected as one of the AHOZ sites due to its location to services and transit, its size, and ability to redevelop with high density residential uses, and suitability for residential development. THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ORDAINS: SECTION I The Zoning Map of the Town is hereby amended to apply the AHOZ designation to the property shown on Exhibit A. SECTION II This Ordinance was introduced at a regular meeting of the Town Council of the Town of Los Gatos on and adopted by the following vote as an ordinance of the Town of Los Gatos at a regular meeting of the Town Council of the Town of Los Gatos on . This ordinance takes effect 30 days after it is adopted COUNCII, MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: SIGNED: MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: CLERK ADMINISTRATOR TOWN OF LOS GATOS LOS GATOS, CALIFORNIA N: \DEV \ORDS\2013\AHOZ Southbay Development Ordinance Amend 2013.doc This Page Intentionally Left Blank e Forwarded by Planning Commission Date: Approved by Town Council Date: Ord: Clerk Administrator Mayor EXHIBIT A of Exhibit 3 of Attachment I This Page Intentionally Left Blank