02 - Laserfiche WebLink

leveraging of its own funds and to increase the funds available for housing, the City plans to undertake the following activities: • Support the purchase and rehabilitation and construction of units by non -profit housing developers. • Continue participation in the Mortgage Credit Certificate (MCC) program operated by the County of Alameda. • Continue to provide support to non - profit, community -based housing developers and service providers. • Promote joint development with other governmental or quasi - governmental agencies to implement community development programs (as exemplified in the recent collaborative acquisition and rehabilitation of the Sojourner House shelter facility and the establishment of the Tri- Valley Housing Opportunity Center). MATCHING PLAN The matching requirements of HUD programs will be satisfied primarily through the use of City Lower Income Housing Funds, where needed, or through funds provided by non -profit agencies which are the sub - recipients of HUD funds allocated to the City. The matching requirement is included in City application forms for federal funding used for sub - recipients and the requirement is ensured throughout the project review and approval process. PUBLICLY OWNED LAND The 7.4 -acre parcel of land on Case Avenue where "The Promenade" apartment project was built was provided by the City through a long -term ground lease. The property had an appraised value of approximately $2.2 million at the time of construction. In 2006, the City contributed (through a similar ground lease) an additional 3.6 -acre site on Sunol Boulevard valued at over $3.5 million for the construction of the Parkview assisted care facility for seniors. The City is currently undergoing a comprehensive update to its Housing Element that involves the rezoning of 70 acres of land throughout Pleasanton for high density residential use. These parcels, some of which may eventually come under the City's ownership, are expected to yield significant new opportunities for affordable housing development over the next decade. The updated Housing Element is scheduled for completion and submission to the state in August 2011. Action Plan - FY 2011 City of Pleasanton Page 13