ORD 1488 - Laserfiche WebLink

but are not limited to, assistance to housing development corporations, equity participation loans, grants, redevelopment loan funds, participation leases, loans to develop affordable housing or other public/private partnership arrangements. The Housing Fund may be used for the benefit of both rental or owner occupied housing. C. Monies in the Housing Fund shall be so segregated such that revenue generated by commercial, office or industrial development projects shall be used solely for lower-income housing activities aimed at providing such housing for workers. D. When the City uses Housing Fund monies to construct or assist in the construction of lower-income units, the City may establish the rules which will apply to occupancy of said units. It is the intention of this Ordinance and the General Plan that such units be made available on a priority basis to Pleasanton residents and workers. E. The City Council may use Housing Fund monies for moderate-income housing as determined necessary and desirable to meet General Plan goals and policies. 17.40.100 Time of Payment. Lower-income housing fees shall be paid at the time of issuance of a building permit for the residential unit and/or fQr the commercial, office or industrial development project giving rise to the fee, unless otherwise determined by the City." Section 2: (Not to be codified) The City Council has previously conditioned the approval of Planned Unit Development 89-22 on the payment of $100,000 into the City's Lower Income Housing Fund. The payment of such sum shall be credited against the lower income housing fees which this ordinance makes applicable to that project. Section 3: This Ordinance shall be published once within fifteen (15) days after its adoption in "The Valley Times," a newspaper of general circulation published in the City of Pleasanton. Section 4: This Ordinance shall be effective sixty (60) days after the date of its final passage and adoption.