03 ATTACHMENTS - Laserfiche WebLink

in order to afford a home, reducing economic vitality, adding to jobs /housing imbalances, and increasing congestion and environmental concerns. The high costs of ownership can also lead to neighborhood destabilization as homeowners sell to investors who then offer the properties for rent, rather than first -time homebuyers who may become long -term residents of the community. Objectives The objectives presented in this section reflect the broad areas which will be pursued under this priority. Implementation will be contingent on current and projected need, availability of financial and other resources, and regular re- assessment of the proposed objectives and accomplishments. Five Year Objectives Five Year Goals Performance Measures Assist moderate and middle income, Continue to offer down payment Down payment loans will be first -time homebuyers through assistance loans through the Down provided to 20 households during provision of City- assisted down Payment Assistance program to help the five -year period. payment assistance and second bridge the gap between a minimum mortgage loans. down payment and first mortgage and increase buying capacity. Continued participation in the Contribute City Housing Funds MCC's will be issued to 25 Mortgage Credit Certificate (MCC) annually toward the administrative Pleasanton low and moderate income Program administered by HCD. costs of the MCC program by homebuyers during the five -year Alameda County HCD. period. Continued participation in American [Administered by HCD] [Administered by HCD] Dream Downpayment Initiative (ADDI) Program administered by HCD. Assist moderate and middle income, Continue and augment efforts to 500 households seeking home first -time homebuyers through promote opportunities for affordable ownership opportunities will be dissemination of information on ownership housing in Pleasanton provided information on City and affordable ownership housing through the dissemination of other programs during the five -year opportunities. information on new housing period as measured through construction, price trends in new and additions to the City's ownership resale homes, and PHAP assistance, mailing list and referrals to the Tri- including expansion of existing Valley Housing Opportunity Center. marketing on the City's web site. Assist moderate and middle income, Continue to work with local housing 20 new units for low and moderate first -time homebuyers through developers to construct additional income homebuyers will be construction of new affordable ownership homes for sale under the constructed and sold during the five ownership housing units. Pleasanton Homeownership year period. Assistance Program (PHAP) at affordable prices. Assist moderate and middle income, Work collaboratively with the cities 25 households will attain home first -time homebuyers through the of Livermore, Dublin, San Ramon, ownership in Pleasanton during the establishment of a "clearing house" and Danville to continue to support five -year period. for home ownership programs in the the growth and capacity of the Tri- Tri- Valley area. Valley Housing Opportunity Center (TVHOC) which opened September 2005 in Livermore. Strategic Plan FY2010 FY2014 City of Pleasanton Page 14