Applications for development projects comprised of one hundred (100) percent affordable housing shall be processed by the County on a priority basis. Applications for projects for other than one hundred (100) percent affordable housing shall be processed in accordance with the housing site review procedures of the County’s Housing Development Fund Program Guidelines. The County shall have twelve (12) months from the date of application to decide whether to acquire the site for assisted housing. If the County decides not to acquire the property, the owner may proceed with development consistent with the land uses and densities indicated by the General Plan and Local Coastal Program Land Use Plan, provided that thirty-five (35) percent of the units will be affordable.