Laserfiche WebLink
-Income Housing Fund: <br />Consider utilizing the City Lower-Income Housing Fund to provide low-interest <br />loans or grants to retrofit existing residential units for the purpose of developing <br />very-low- and low-income rental units with three bedrooms for large families. An <br />apartment building that needs rehabilitation could be retrofitted to combine two <br />smaller units to make a unit appropriate for a larger family. <br /> <br />Workshop with non-profit developers and owners of sites redesignated to accommodate <br />affordable housing at 30 units per acre: <br />The City will coordinate this workshop to indentify sites suitable for affordable <br />housing projects at 30 units per acre for the purpose of facilitating discussion <br />regarding potential opportunities, programs, and financial support. The City will <br />utilize its Lower Income Housing Fund to assist a non-profit housing developer with <br />the acquisition of a site, or other financial support, to assist with development of an <br />affordable project with three-bedroom units for families. <br /> <br />: <br />The City Council will hold a public hearing each year <br />Consolidated Annual Performance Evaluation Report, to be prepared by staff <br />regarding how the City has utilized the Department of Housing and Urban <br />Development (HUD) funds and other funds not related to low-income housing. The <br />report also addresses a broader review of what the City has done with the Housing <br />efforts to fulfill Resolution 10-390 in terms of the <br />Settlement Agreement, the success of those efforts, and the plan and proposals to <br />attract well-designed affordable housing for families with children in the future. <br /> <br />Commissioner Olson requested confirmation that the City has a Lower Income Housing <br />Fund. <br /> <br />Ms. Stern confirmed that was right. <br /> <br />Commissioner Olson inquired how it is <br />funded. <br /> <br />Ms. low-income housing <br />fee imposed upon new residential and commercial development. She stated that the <br />being built; <br />but the City does not anticipate reaping many benefits from this in the future. She <br />indicated that she believes the City has $4 to $6 million in the Fund, which is substantial <br />but limited as the City does not anticipate adding to the Fund. <br /> <br />inquired if the housing that could be built on the sites to be <br />rezoned would be paying into the Lower Income Housing Fund. <br /> <br />PLANNING COMMISSION REGULAR MINUTES, April 27, 2011 Page 38 of 40 <br /> <br />