A. To insure a reasonable balance of rental and ownership housing in Petaluma and a variety of individual choices of tenure; type; price and location of housing;

B. To maintain the supply of rental and mobile home housing opportunities for low and moderate-income persons and families; and

C. To reduce and avoid the displacement of long-term residents; particularly senior citizens and families with school age children; who may be required to move from the community due to a shortage of replacement rental and mobile home housing opportunities.

The city council finds and declares that when the number of vacancies being offered for rent or lease in the city is equal to or less than three percent of the total number of such dwelling units offered for and under rental or lease agreement in the city; a housing shortage exists which is inconsistent with the purposes of this chapter and with the declared goals and objectives of the city relating to its housing element of its general plan.

The council further finds that the conversion of existing apartment buildings or mobile home parks into community housing diminishes the supply of rental and mobile home housing opportunities and displaces residents and will tend to require them to move outside of Petaluma when a housing shortage exists.