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File Number: 22-245 Inclusionary Housing Plan As shown in Attachment F, the applicant has proposed an alternative means of compliance as allowed under the Inclusionary Housing Ordinance through a hybrid approach that provides needed market and moderate-income housing while replenishing the City’s Housing Trust Fund. The DDA between the City and Cal-Coast outlines the inclusionary requirements for the Shoreline Development, which will also be reflected in the Development Agreement. For the owner units (single family and townhomes), Cal-Coast will construct 10%, or 21 total inclusionary units on site, out of a total of 206 units and pay a pro-rata housing in lieu fee of approximately $1 million for the remaining 5% set aside requirement. The proposed for-sale in lieu fee is $10 per gross square foot of residential floor area. Of the 21 inclusionary for sale units, 13 workforce income units and eight moderate income units will be provided. The workforce income housing units will be made available for families whose gross income does not exceed 135% of the Area Median Income. The moderate-income units will be made available for families whose gross income does not exceed 120% of the Area Median Income. Per the DDA, Cal-Coast will also pay a housing in lieu fee based on $5 per rentable square feet instead of constructing on-site inclusionary units for the 285-unit multifamily rental development. The housing in lieu fee for the multifamily rental development is estimated to be approximately $1.2 million. Cal-Coast will pay a total of approximately $2.2 million in housing in-lieu fees to the City’s Affordable Housing Trust Fund. Housing In Lieu Fees can then be leveraged to attract additional County, Regional, State, and Federal funds for future affordable housing projects. Public Benefits and Next Steps The Shoreline Development meets the goals and vision for a comprehensive Shoreline master plan that was envisioned in 2008 as a result of robust community outreach and planning efforts. The planning entitlements and Development Agreement phase is a significant milestone for the project, which will include a number of community benefits including: ·Fulfilling the community's vision to establish the Shoreline as a regional destination for dining, lodging, entertainment, and recreation, while creating a new waterfront neighborhood with mixed-density housing; ·Building 21 on-site moderate-income and workforce housing units and contributing $2.2 million toward the City’s affordable housing trust fund for investment in future affordable housing projects; ·Including key public improvements and recreational opportunities; ·Generating approximately $29 million dollars in property sales to contribute towards publicly accessible open spaces, including a nine-acre park at Mulford Point, waterfront promenades with shoreline and flood protection improvements, and a developer-funded and developer redesigned nine-hole golf course; ·Mitigating traffic impacts by requiring transportation demand management strategies (shuttle, transit passes, etc.) and contributing towards transportation infrastructure, such as new and modernized traffic signals, bicycle lanes, and portions of the Bay Trail; ·Providing a variety of sustainable features, including LEED certification for the Hotel and Page 8 City of San Leandro Printed on 6/15/2022