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17.40.070 Annual adjustment of the fee. The lower emeaffordable housing fee shall annually be revised effective January 1st of each year, commencing on January 1, 1992, by the percentage increase or decrease in the Consumer Price Index for San Francisco/Oakland region. 17.40.080 Establishment of lower–income-affordable housing fund. A. All fees generated pursuant to this chapter shall be deposited into the lower–income affordable housing fund, and any property interest or other value contributed, including interest earned by the fund, shall be segregated and used exclusively for the purposes provided for herein. B. The city manager shall make a written annual report to the city council regarding the administration of the affordable housing fund, and shall present such annual report at a regular meeting of the city council. C. Pursuant to Government Code Section 66000, et seq., the city shall make findings once each fiscal year with respect to any portion of the fees remaining unexpended or uncommitted in its account five or more years after the deposit of the fees to identify the purpose to which the fee is to be put and to demonstrate a reasonable relationship between the fee and the purpose for which it was charged. The findings required by this section need only be made for moneys in the possession of the city and need not be made with respect to letters of credit,bonds or other instruments taken to secure payment of the fee at a future date. D. Any refunds shall be made pursuant to Government Code Section 66001. 17.40.090 Use of lower ineome-affordable housing fund. A. Any moneys generated by this chapter shall be used in accordance with and in support of activities to implement the city's adopted housing element. Activities may include, but are not limited to,land acquisition, construction, rehabilitation, subsidization, and counseling or assistance to other governmental entities,private organizations, or individuals to expand housing opportunities to lower-income households. B. Moneys in the affordable housing fund may be disbursed, hypothecated,collateralized, or otherwise employed for the purposes set forth herein. These purposes include, but are not limited to, assistance to housing development corporations, equity participation loans, grants, development loan funds, participation leases, loans to develop affordable housing or other public/private partnership arrangements. The affordable housing fund may be used for the benefit of both rental or owner-occupied housing. C. Moneys in the housing fund shall be so segregated such that revenue generated by 1-When the city uses affordable housing fund moneys to construct or assist in the construction of lower-income units, the city may establish the rules which will apply to occupancy of said units. It is the intention of this chapter and the general plan that such units be made available on a priority basis to Pleasanton residents and workers. DE. The city council may use affordable housing fund moneys for moderate-income housing as determined necessary and desirable to meet general plan goals and policies. 17.40.100 Time of payment. T ower Affordable housing fees shall be paid at the time of issuance of a building permit for the residential unit and/or for the commercial, office or industrial development project giving rise to the fee, unless otherwise determined by the city. • Chapter 17.46 Dedications is repealed in its entirety.