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Project Name Year Rent 1 Total Aff. Perc. Affordability Total Waiver 1 Subsidy Built Sale Units Units Aff. Level Subsidy Per Aff. Unit Stanley Senior Apts. 1997 Rent 86 86 100% LowNery Low $1,214,850 $14,126 The Promenade Apts. 1997 Rent 146 68 47% Low $1,719,820 $25,291 Town Square 1998 Sale 30 3 10% Moderate $150,000 $50,000 Archstone Hacienda Apts. 2001 Rent 540 135 25% Low $2,101,500 $15,567 Nolan Farms 2001 Sale 36 5 14% Very Low $250,000 $50,000 Greenbriar/Bernal Property 2002 Rent/Sale 581 87 15% LowNery Low $1,708,090 $19,633 Ponderosa/Busch Property 2005 Rent/Sale 362 138 38% LowNery Low $3,771,300 $121,655 Parkview Asst.Living Facility 2007 Rent 105 31 30% Very Low $1,012,749 $7,339 Windstar/BART Apts. TBD Rent 350 70 20% Very Low $500,000 $7,143 2,236 623 28% $12,428.309 $34.528 TOTAL AVERAGE As noted in the table, the City recently approved a waiver of approximately $1 million in City fees for the 172-unit senior apartment project that was recently completed on the Busch property in east Pleasanton. In 2003, the City Council also approved a waiver of $271,300 in City fees for the Parkview assisted living facility that was recently completed on Sunol Blvd. In addition, the City provided the land for the project (a 3.6 acre site valued at $3.5 million) and $2.49 million in predevelopment and permanent loans, for a total of over $3.77 million in City assistance. The City recently approved a waiver of $500,000 in park dedication fees to facilitate development of the Windstar / BART apartment project. The City will consider future requests for fee waivers on a project- specific basis. City Lower Income Housing Fee The City has established a fee which may be paid by developers in lieu of constructing new affordable housing. In 1998, the City completed an updated nexus study which resulted in a 30% increase to the residential component of the Lower Income Housing Fee (LIHF). Following adoption of the Inclusionary Zoning Ordinance in 2000, the City undertook a study of the LIHF to consider a further increase. A new fee structure was approved by the City Council in May 2003. The current fee amounts (effective January 2012) are: $10,382 per unit for single family residential development; $2,573 per unit for multi-family residential development and single-family units 1,500 sq. ft. and under; and $2.74 per square foot for 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). Adlon Plan—FY 2012 Clty of Pleasanton Page 10