§ 15.44.040. Annual residential development allocations.

A.

..... The number of dwelling units hereinafter to be constructed each year in the City (except for dwelling units exempted in accordance with the provisions of Section 15.44.020), is a maximum of five hundred (500).

B.

..... The annual allocation may be modified by the City Council to an amount not greater than ten (10) percent more or less for any given year, provided that the annual allocation for the next succeeding year shall be set higher or lower, as the case may be, in order to redress any excess or deficiency. This ten (10) percent rule shall apply in all instances except that expressly provided for in Section 15.44.070(A).

C.

..... The annual allocation shall be continuously applicable to the City's jurisdictional boundaries and shall not be modified by reason of annexation or additional territory.

(Prior code § 38-4)