Laserfiche WebLink
POLICIlw.~ AND GUIDELINES FOR USE OF 'r~iE <br />CITY OF PLEASANTON LOWER-INCOME HOUSING FUND <br /> <br /> luly 5, 1994 <br /> <br />Purpose of the Lower-Income Housing Fund <br /> <br />To cream new affordable (lower-income and moderate income) housing to offset the impacts <br />of new development, both x'csidential and commerelal/office/industrial, on the City's housing <br /> <br />To enable the City to meet the portion of its lower-income and moderata income housing <br />needs, as identified in the General Plan Housing Element, which cannot be adequately met <br />through other measures such as inelusionai7 programs and market rate projects. <br /> <br />Defmifiom <br /> <br />The various terms used in these policies (e.g., moderata income, lower-income) shall be as <br />defined in the ordinance establishing the Lower-lncomo Housing fee (Municipal Cede <br />Chapter 17.40), oxcept as othezv,4se described in this section. <br /> <br />AS noted in Section 17.40.020, the tarm "lower-income" refers to households with incomes <br />no greater than 80% of the area median income level. This broad category includes both <br />"low income" (50% to 80% of median) and "very low income" (less than 50% of m~ian) <br />householdS. <br /> <br />General Poficies <br /> <br />Housing Funds shall be used for projects or activities which benefit Pleasanton residents <br />and/or workers and which address the goals, policies, and programs of the General Plan <br />Housing Element for affordability level, housing tenure, and other priority issues. <br /> <br />Priority shall be given to projects which address the housing needs of "very low income, <br />"low income," and "roodrote income" households according to the lovel of need established <br />in the General Plan Housing Element. <br /> <br /> <br />