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Lower income Housing Fund (Fund 271) <br /> Amount collected in previous fiscal years subject to 5 year limitation $5,189,693 <br /> Funds are committed to the following project <br /> O Kottinger Place Redevelopment— project#271005 <br /> Description Redevelopment of Kottinger Place and Pleasanton Gardens from a total <br /> of 91 units to an 185 units senior housing project <br /> Approximate project completion date 2017 <br /> Project cost $62,000,000 <br /> % funded by development impact fees 16 1% <br /> Source of funding Lower Income Housing Fees (16 1%) of$4,955,186 expended, Tax <br /> Credits, HUD 202 Funds, private bank loans (83 9%) <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a regular meeting held on December 20, 2016 <br /> I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing <br /> resolution was adopted by the City Council at a regular held on the 20th day of December, 2016 <br /> Ayes Councilmembers Brown, Narum, Olson, Pentin, Mayor Thorne <br /> Noes None <br /> Absent None <br /> Abstain None <br /> �A a-1. r <br /> Karen i iaz, City ' lerk <br /> APP'OVED AS TO FORM <br /> a, ' <br /> Daniel Sodergren, City/1 ttorney <br />