RES 221281 - Laserfiche WebLink

Use the lower -income -housing fee to generate funds for the provision of housing affordable to extremely low-, low- and very low-income households The low-income housing fund should be used primarily to Program 18.2: Continue to 09 leverage State and Federal funds in the development of housing affordable to low - The City has continued to exempt all affordable housing units from the low income exam tall housing units P 9 and very low-income households and in - housing fee in 2021 As the City works on future projects, the expectation is that all affordable to low- and very house loan programs, so that the fund may Ongoing units affordable to low- and very low-income households will be eligible for a waiver of low-income households from be used most efficiently and maintained a from payment of the Lower Income Housing Fee in conformance with the City's long - the low income housing fee over time. When considering allocation of stare am Policy these funds, priority will be given to non- profit housing developers with a project including three bedroom units affordable to large extremely low, low- and very low- income households. Use the laver -income -housing fee to generate funds for the provision of housing affordable to extremely low-, low- and very low-income households The low-income housing fund should be used primarily to Phase 1 of Kottinger Gardens, which utilized Lower Income Housing Funds, was Program 18.3: Use the leverage State and Federal funds in the completed and fully leased up in July 2017, Unused Lower Income Housing Funds Lower Income Housing development of housing affordable to low- from Phase 1 was transferred to Phase 2, which began construction in January 2018 Fund to help build housing and very low-income households and in- and completed in September 2019. In addition the City Council approved an affordable to low- and very house loan programs, so that the fund may As needed/Ongoing Affordable Housing Agreement that included the dedication of 1.64 acres of land to the low-income households on be used most efficiently and maintained City to be used in partnership with SAHA/Sunflower Hill on a future residential City owned land over time. When considering allocation of affordable housing development for individuals with developmental disabilities which these funds, priority will be given to non- was completed in 2020 The City committed $2.25 million from the fund for the profit housing developers with a project Sunflower Hill project including three bedroom units affordable to large extremely low, low- and very low- income households - Program 184: Use the Lower Income Housing Fund to extend rent restriction agreements, purchase land, write down Use the lower -income -housing fee to mortgage costs, rehabilitate generate funds for the provision of housing units, subsidize rents, issue affordable to extremely low-, low- and very low-income tax exempt bands, post loan households, The low-income collateral, pay pre- housing fund should be used primarily to development costs, and P leverage State and Federal funds in the development of housing affordable to low - In July 2017, construction of Phase 1 of Kottinger Gardens was completed, and in otherwise help produce and very low-income households and in - Explore ways to use the September 2019 Phase 2 was completed which included funds from the Lower Income housing units affordable to house loan programs, so that the fund may fund forthe list of activities Housing Fund (LIRE), to assist in the redevelopment of Kottinger Place and Pleasanton lower income households. be used most efficiently and maintained in the program annually and Gardens, two aging rental complexes that provide housing to extremely lav -income The objective of this is to over time, When considering allocation of as needed. elderly persons. The City also committed $2 25 million from the fund for the Sunflower utilize the Lower Income Housing Fund in a manner these funds, priority will be given to non - Hit project which was completed in 2020. consistent with City pmt housing developers with a project ordinance and to support including three bedroom units affordable to affordable housing, large extremely low, low- and very low - ,particularly developments income households, Quantified Objective: (proposed by non-profit 150 units developers that include units for targe families at very IoW incomes. Use the lower -income -housing fee to Program 18.5: When generate funds forthe provision of housing considering how to utilize affordable to extremely low-, low- and very the City's Lower -Income low-income households. The low-income Housing Fund, consider housing fund should be used primarily to whether a proposal with a leverage Stale and Federal funds in the non-profit housing development of housing affordable to low- Although this situation did not present itself in 2021, the City has worked with developer and a for-profit and very lax -income households and in- 'Consider prioritization by SAHAISunflower Hill, both non -profits formed a partnership, on a housing project within housing developer house loan programs, so that the fund may January 2016 Irby Ranch and will continue to consider both non-profit vs, for-profit partnerships on a P Pr P P partnership should be a be used most efficiently and maintained case=b]' case basis. higher priority project due to over time- When considering allocation of these its ability to potentially funds, priority will be given to non - secure better funding and Profit housing developers with a project Ibe developed including three bedroom units affordable to large extremely low, low- and very low- income households.