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ATTACHMENT 3
<br /> TABLE B:
<br /> LOWER INCOME HOUSING FEE BALANCE#
<br /> (REVENUES / EXPENDITURES, 1988 TO PRESENT)
<br /> FY Revenue Expenditures Balance
<br /> 88-89 $2,827,358
<br /> 89-90 $456,254 $0 $3,283,612
<br /> 90-91 $578,292 $26,441 $3,835,463
<br /> 91-92 $859,010 $110,685 $4,583,788
<br /> 92-93 $1,408,119 $374,809 $5,617,098
<br /> 93-94 $978,856 $273,867 $6,322,087
<br /> 94-95 $1,795,877 $2,296,602 $5,821,362
<br /> 95-96 $1,714,703 $3,946,309 $3,589,756
<br /> 96-97 $2,044,427 $446,642 $5,187,541
<br /> 97-98 $1,784,109 $124,251 $6,847,399
<br /> 98-99 $1,965,015 $498,435 $8,313,979
<br /> 99-00 $1,266,478 $389,488 $9,190,969
<br /> 00-01 $1,560,625 $580,007 $10,171,587
<br /> 01-02 $816,772 $255,493 $10,732,866
<br /> 02-03 $569,538 $898,839 $10,403,565
<br /> 03-04 $1,088,398 $2,686,202 $8,805,761
<br /> 04-05 $3,243,395 $816,060 $11,233,096
<br /> 05-06 $2,820,203 $3,180,920 $10,872,379
<br /> 06-07 $1,654,703 $337,128 $12,189,954
<br /> 07-08 $1,825,714 $865,904 $13,149,764
<br /> 08-09 $2,775,469 $439,972 $15,485,261
<br /> 09-10 $886,368 $660,820 $15,710,808
<br /> 10-11 $627,300 $1,969,494 $14,368,615
<br /> 11-12 $1,147,271 $508,028 ' $15,007,857
<br /> 12-13 $1,552,071 $117,8341 $16,442,094
<br /> 4cn✓O 27/ aims lacier
<br /> As shown above, the current balance in the LIHF (as of February 2013) is approximately $16.4 million.
<br /> Of this amount, approximately $8 million has been earmarked by the City Council for the future
<br /> redevelopment of Kottinger Place and Pleasanton Gardens.
<br /> Based on conservative projections, the LIHF could potentially grow by an additional $10 to $13 million
<br /> over the next five years using current fee amounts (with a modest annual inflation factor) and the
<br /> growth projections included in the most recent Capital Improvement Program (updated to reflect the
<br /> recent Housing Element rezonings). However, given the fact that a significant number of units in the
<br /> high-density projects that may build out over the next few years may not be required to pay the LIHF
<br /> (i.e., because they will provide the affordable units), the projected revenue from new development could
<br /> be significantly less.
<br /> Additional revenue is obtained on an ongoing basis from the repayment of second mortgages (e.g.,
<br /> through the City's Down Payment Assistance and second mortgage loan programs) or lease payments
<br /> from various projects such as the Promenade, the Parkview, and the Gardens at Ironwood.
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