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Fiscal and Administrative Impacts <br /> Funds to support the BMR ownership program administration and related first time <br /> homebuyer services have historically been appropriated from the City's Lower Income <br /> Housing Fund (LIHF) on a project or case-by-case basis. In recent Affordable Housing <br /> Agreements for new housing, the City has collected a modest administrative fee from <br /> developers upon close of escrow and sale to the eligible buyers to pay for marketing <br /> costs, BMR applicant selection and defray ongoing monitoring costs. This fee would <br /> continue to offset the costs of the proposed agreements to a limited extent for projects <br /> with new BMR units. However, this fee structure is not currently in place for older resale <br /> units which constitute the majority of sales activity in Pleasanton's BMR program. As <br /> noted earlier, both agencies would be required to apply for future funding on a <br /> competitive basis through the City's HHSG program. <br /> Submi ed by: Fisca Review: Approved by: <br /> IA":i 14 / 71.,,,4 ---Brian Dolan Tina Olson Nelson Fialho <br /> Assistant City Manager Finance Director City Manager <br /> Attachments: <br /> 1. Draft Resolution <br /> 2. Recommended Professional Services Agreement (Hello Housing) <br /> 3. Recommended Professional Services Agreement (ECHO Housing) <br /> Page 5 <br />