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Chapter 17.40 LOWER-INCOME HOUSING FEES Page 3 of 4 constructed beyond 15 percent of the residential development project,the project developer shall be given a credit for purposes of off-setting the lower-income housing fee otherwise required, in an amount established by separate city council resolution and which credit amount shall be set forth in the city's fees and charges appendix. D. In the event the lower-income housing constructed by the developer of a commercial,office or industrial development project creates an offset of the lower-income housing fee greater than the total fee required by the development project, the developer may apply the difference to other sites then owned by the developer. This transfer shall be so noted in the regulatory agreement accompanying the project. (Ord. 1488 § 1 (part), 1990) 17.40.070 Annual adjustment of the fee. The lower-income housing fee shall annually be revised effective January 1st of each year,commencing on January 1, 1992,by the percentage increase or decrease in the Consumer Price Index for San Francisco/Oakland region. (Ord. 1488 § 1 (part), 1990) 17.40 080 Establishment of lower-income housing fund. A. All fees generated pursuant to this chapter shall be deposited into the lower-income housing fund, and any property interest or other value contributed, including interest earned by the fund, shall be segregated and used exclusively for the purposes provided for herein. B. The city manager shall make a written annual report to the city council regarding the administration of the housing fund,and shall present such annual report at a regular meeting of the city council. C. Pursuant to Government Code Section 66000,et seq.,the city shall make findings once each fiscal year with respect to any portion of the fees remaining unexpended or uncommitted in its account five or more years after the deposit of the fees to identify the purpose to which the fee is to be put and to demonstrate a reasonable relationship between the fee and the purpose for which it was charged.The findings required by this section need only be made for moneys in the possession of the city and need not be made with respect to letters of credit,bonds or other instruments taken to secure payment of the fee at a future date. D. Any refunds shall be made pursuant to Government Code Section 66001. (Ord. 1488 § 1 (part), 1990) 17.40.090 Use of lower-income housing fund. A. Any moneys generated by this chapter shall be used in accordance with and in support of activities to implement the city's adopted housing element. Activities may include,but are not limited to,land acquisition,construction,rehabilitation, subsidization,and counseling or assistance to other governmental entities,private organizations,or individuals to expand housing opportunities to lower-income households. B. Moneys in the housing fund may be disbursed,hypothecated, collateralized,or otherwise employed for the purposes set forth herein. These purposes include,but are not limited to, assistance to housing development corporations,equity participation loans,grants,development loan funds,participation leases, loans to develop affordable housing or other public/private partnership arrangements. The housing fund may be used for the benefit of both rental or owner-occupied housing. C. Moneys in the housing fund shall be so segregated such that revenue generated by commercial, office or industrial development projects shall be used solely for lower-income housing activities aimed at http://gcode.us/codes/pleasanton/view.php?topic=17-17_40&showAll=1&frames=on 10/9/2013