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RESOLUTION NO. 2016-009 <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA, CALIFORNIA, IN SUPPORT <br />OF THE HOUSING FUTURES INITIATIVE BY THE <br />BUILDING INDUSTRY ASSOCIATION ORANGE <br />COUNTY CHAPTER <br />WHEREAS, in 2014 the Building Industry Association Orange County Chapter, in <br />collaboration with the Orange County Business Council (OCBC) embarked on the <br />Housing Futures Initiative to reverse the trend of losing Orange County's young adults <br />and diverse workforce due to high housing costs by offering a road map for the creation <br />of new housing options that is attainable and meets the needs of our local cities and <br />economies; <br />WHEREAS, in 2015, $141,000 is the annual minimum qualifying income to afford <br />a median -priced home in Orange County, and $66,000 annually to lease a typical two- <br />bedroom apartment in Orange County; <br />WHEREAS, due to the high cost of living, the Orange County region is losing 7% <br />of individuals in the 25-34 age range while surrounding counties are showing an <br />increase; <br />WHEREAS, due to the lack of affordable housing, 6,210 existing homes are at <br />risk of losing affordability in the next five years, and 91% of homes are unaffordable to <br />teachers; <br />WHEREAS, powered by more than 1,100 member companies, the BIA/OC is <br />committed to supporting the creation of housing at all levels of affordability as the <br />foundation of vibrant and sustainable communities; <br />WHEREAS, through collaboration with local stakeholders, Community Members and <br />Business Partners, the six recommendations set forth in The Initiative are designed to <br />promote and encourage the development of a broad range of housing at all levels of <br />affordability, and are as follows; <br />• Existing Opportunities: Existing General Plans and zoning documents provide <br />opportunities to build homes that can be offered at lower price points. These <br />opportunities need to be identified and promoted to stakeholders. <br />• Modernize Zoning: A greater variety of housing can be provided by adopting <br />flexible development standards and modernizing zoning. Specifically, changes <br />should be designed to provide housing that attracts individuals who are leaving <br />Orange County due to a lack of affordable housing: individuals 25 - 34, and <br />Boomers. <br />Resolution No. 2016-009 <br />Page 1 of 3 <br />