09B - Laserfiche WebLink

• The term of the loan will be the earlier of 55 years after the City issues the final certificate of occupancy for the project or 57 years after the Construction / Permanent Loan origination date. Alameda County Measure Al Bond (Bond) In November 2016, the Measure Al Bond was passed by over 73% of voters. The $580 million countywide Housing Bond program will fund the following programs: 1) Down Payment Assistance Loan Program ($50 million), designed to assist middle-income households to purchase homes and stay in Alameda County; 2) Homeownership Housing Development Program ($25 million), designed to assist in the development and long-term affordability of homeownership housing for low- income households to become first-time homebuyers; and, 3) Housing Preservation Loan Program ($45 million), to help seniors, people with disabilities, and other low-income homeowners to remain safely in their homes. 4) Rental Housing Development Fund ($425 million), to create and preserve affordable rental housing for vulnerable populations. See below for allocations by city from this Fund within Alameda County; and, 5) Innovation and Opportunity Fund ($35 million), to respond quickly to capture opportunities that arise in the market to preserve and expand affordable rental housing and/or prevent tenant displacement. Below is a list of the Bond funding allocations for each Alameda County city from the Rental Housing Development Fund totaling $225 million. The remaining $200 million from the Rental Housing Development Fund will be allocated to a regional competitive housing pool divided by North County, Mid County, East County and South County. • City of Alameda ($10.3 million) • City of Albany ($2.6 million) • City of Berkeley (15.8 million) • City of Dublin ($8.8 million) • City of Emeryville ($2.8 million) • City of Fremont ($33.3 million) • City of Hayward ($20.3 million) • City of Livermore ($12.7 million) • City of Newark ($6 million) • City of Oakland ($54.8 million) • City of Piedmont ($2.4 million) • City of Pleasanton ($13.7 million) • City of San Leandro ($11.9 million) • Unincorporated Alameda County ($19.7 million) • City of Union City ($9.8 million) The City of Pleasanton's $13,720,684 "Base City Allocation" has a remaining balance of $7,748,616, which per the Measure Al funding policy guidelines, will need Page 4 of 6