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commercial, office, and industrial development. These fee amounts will increase based on the annual CPI adjustment. The fees collected from new development contribute to the Lower Income Housing Fund, which is used by the City to fund activities related to the construction or acquisition of affordable housing. The City has allocated Housing Funds during the past several years for several projects, including "The Promenade" Apartments (which includes 68 low and very low income apartments) and Stanley Junction Senior Apartments (86 below- market apartments for seniors). The City has also used an average of over $100,000 per year in Housing Funds to supplement several housing projects which sought funds under the Housing and Human Services Grant (HHSG) funding allocation process. In addition, the City has committed approximately $500,000 in Housing Funds over the past several years to start several loan programs (including the current down payment assistance program being funded in part with state HELP funds) to assist low and moderate income first -time home buyers with primary and second mortgages to enable the purchase of existing homes in Pleasanton. In 2001, the City used $250,000 in Housing Funds to buy down the sales price of five homes in the Nolan Farm development by SummerHill Homes (described earlier). The five single- family homes were sold at a below - market price of $130,000 (compared to a market value of over $400,000). The developer delivered the homes at a cost of $180,000, and the City provided $50,000 second mortgages. In addition, the Housing Fund was used to provide up to $20,000 in second mortgage loans for each of the buyers of the 56 below- market priced duet homes on the Bernal property. Recently, the Pleasanton City Council approved the use of Housing Funds, starting with a new allocation of $250,000, to continue the operation of the Down Payment Assistance program using 100% local funding (the program was formerly funded in part through Ca1HFA HELP funds). The Council will consider additional Housing Fund allocations to this program as needed. Lead Abatement Because of the relativel y young age of Pleasanton's housing stock, the City does not currently participate in the existing Joint Powers Authority (JPA) for Lead -Based Paint Abatement. However, the City recently worked jointly with the Alameda County Lead Poisoning Prevention Program and the City of Livermore to produce a professionally designed color brochure which was sent to home owners in housing built prior to 1978 and to programs and facilities whose clients are young children. The City will continue to monitor this issue and may consider future participation in the JPA. Starting in July 2010, the City began to routinely compile lead paint data for each new residential rehabilitation project processed through the Housing Rehabilitation Program, including assumed lead present, lead safe work practices followed, testing, abatement, and clearance test performed. Action Plan - FY 2011 City of Pleasanton Page 11