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Annette Brecheisen From: Pleasanton City Clerk SUPPLEMENTAL MATERIAL Subject: Affordable Housing Funds Transfer? provided to the City Council After Distribution of Packet From: Ellen Holmgren 3 -a i- 17 Sent:Tuesday, March 21, 2017 2:36 PM Date To:Jill Miller; Mayor and City Council <citycouncil @cityofpleasantonca.gov> Cc:Tina Olson<Colson @cityofpleasantonca.gov>; Brian Dolan <bdolan @cityofpleasantonca.gov>; Larissa Seto <Iseto @cityofpleasantonca.gov>; Pleasanton City Clerk<pleasantoncityclerk @cityofpleasantonca.gov> Subject: RE:Affordable Housing Funds Transfer? Dear Jill Miller, Thank you for your email regarding Item No. 12 on the City Council Agenda for March 21, 2017, to consider a resolution accepting the midyear FY 2016/17 Operating Budget and amending the FY 2016/17 Operating Budget. This email acknowledges receipt of your email to the Mayor and City Council and the City Manager. Thank you again for your interest in the City of Pleasanton. Sincerely yours, Ellen Holmgren, Administrative Assistant City of Pleasanton From:Jill Miller Sent:Tuesday, March 21, 2017 2:14 PM To: Mayor and City Council<citycouncil lacitvofpleasantonca.gov> Subject:Affordable Housing Funds Transfer? Hello, This paragraph from the Weekly's March 20 online edition today prompts my email: "A key talking point during the budget update will be what to due with $4.5 million paid to the city in October by the developer of the Vintage Village apartment project on Stanley Boulevard where Valley and Bernal avenues connect in lieu of providing affordable housing units in the complex. The city has placed the full amount in the lower income housing fund for now, but the council in 2014 approved of only requiring just over $1 million to go into the lower income housing fund and putting the rest into a special fund for a yet-undetermined operating or capital project. Staff recommends the council follow that plan and transfer just over $3.4 million of the fee payment to the capital improvement project reserve to be allocated to eligible projects at a future time." I know the decision was made in 2014, but how is it possible to redirect funds earmarked for low income housing to as yet undetermined capital projects? It doesn't seem like the right thing to do. Since there is no defined capital project that requires those monies, I don't understand why the funds are being taken from low income housing funding which is so desperately needed. Respectfully, Jill Miller Pleasanton resident 1