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ATTACHMENT 1 Mr. Dolan commented on how Bond funds were divided to each of the cities and noted that information on the AC Boost Program was being provided because the Commission has requested they be provided information on other programs. Mr. Hernandez advised that staff had researched program models for other cities and thought it would be helpful for the Commission to learn about the AC Boost Program. Commissioner Kiziloglu liked that something is being addressed but felt the 125% to AMI would make it difficult for some people to apply and had questions about the lottery concept. She was provided information about the lottery concept and advised that it was decided to make the AC Boost Program a middle-income program. Commissioner Gaidos questioned whether there was a statutory cap on raising the AMI level and Commissioner Duggan asked if loans could work for below-market rate and how residency was being checked. Chairperson Soby commented on buyers needing to qualify for first mortgages based on their finances. Mr. Warner discussed active debt services with AC Boost Program loans and Commissioner Welsh questioned whether terms of the Bond allowed for supplementing through the AC Boost Program. Mr. Hernandez noted that the staff report lays out other options for the Commission to consider, i.e. incorporating the AC Boost Program and increasing the maximum loan amount, or a deferred payment loan. Mr. Dolan discussed the importance of considering other options because of the 120% AMI consideration and the use of Lower Income Housing Funds (LIHF). He advised that Commissioners are being asked to make recommendations that will be significant changes. Commissioner Duggan discussed with Mr. Hernandez the possibility of increasing funds and aligning with the AC Boost program. Commissioner Gaidos commented on the impracticality of the program for the Pleasanton area because of the cost of homes. Mr. Dolan advised that staff would like to take time to put together more scenarios to explore what options could be made to work if programs were layered. Commissioner Duggan felt it would be worthwhile looking into and there could be something achieved with regard to the LIHF. Mr. Dolan commented on the City of Pleasanton loan amounts being too small and increasing loan amounts would require spending more from the LIHF. He provided information on how the City has used funds for subsidizing projects. Commissioner Kiziloglu agreed with Commissioner Gaidos' comments and felt it was more important to be considering building homes in Pleasanton that people can afford. She felt issues were not being addressed, and the City is working on things that are not effective. Commissioner Welsh indicated that she would like to learn more about other options. Commissioner Gaidos commented on making things akin to a shared loan with 175% AMI or 150% AMI with a shared appreciation loan. He felt staff needed to run the numbers at 150% AMI but was still unsure that it would work for Pleasanton. He discussed the importance of aiming to reach teachers, police and others who want to live in the area and keep an eye on always helping them. He was advised that the AC Boost Program has funds set aside for educators and first responders. Chairperson Soby asked about the number of loans that could be provided and suggested staff Page - 3 -