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4_Exhibit B
City of Pleasanton
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2020 - PRESENT
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2023
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01-11
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4_Exhibit B
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1/5/2023 4:11:46 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
1/11/2023
DESTRUCT DATE
15Y
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\BOARDS AND COMMISSIONS\PLANNING\AGENDA PACKETS\2020 - PRESENT\2023\01-11
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DRAFT <br />2023-2031 Housing Element City of Pleasanton | 38 <br />4. Study the development of an enhanced local rental assistance program for the <br />workforce that would help to off-set the costs of market-rate rents for qualifying very- <br />low, low- and moderate-income households, when payment of those rents would result <br />in overpayment or severe overpayment as defined in Appendix A. The City will <br />implement the program unless it is determined it would be financially infeasible, or <br />would negatively affect the City’s ability to fund other housing and human services <br />programs that benefit these same income groups. <br />• Responsible Agency: Housing Division, Planning Division <br />• Time Period: Produce new outreach materials January 2025; apply Condominium <br />Conversion Ordinance (ongoing as applications are received); study development of an <br />enhanced rental assistance program January 2027 with implementation to follow based <br />on study <br />• Funding Source: Housing Division Budget, Lower-Income Housing Fund. <br />• Quantified Objective: Although Housing Choice Vouchers are portable and administered <br />by Alameda County Housing Authority, the City’s objective is to continue to have at least <br />295 Housing Choice Voucher program participants reside in Pleasanton <br /> <br />Program 2.9 <br />Seek County, State, and Federal assistance for the development of housing to meet the housing <br />needs of households with extremely low, low, and very low incomes as well as those with <br />disabilities (including developmental disabilities). Potential sources may include State/Federal <br />lower-income housing tax credits, grant funding (e.g., Affordable Housing and Sustainable <br />Communities Program, etc.) and bond financing. The timing of application will depend upon the <br />schedule for specific projects proposed by individual developers in as much as the City does not <br />currently own any land for development of housing affordable to low- and very low-income <br />households and those with disabilities. If the City is successful in securing an open source of <br />funding for housing affordable to low- and very low-income households the availability of these <br />funds will be promoted through the City’s website, in local newspapers, social media, and through <br />posting at public places subject to normal procedures. The objective of this program is to secure <br />available funding required to finance gap funding for affordable housing development. A timeline <br />would be developed on a project-by-project basis as affordable development <br />inquiries/applications are submitted to the City. <br />• Responsible Agency: Housing Division <br />• Time Period: Seek funding annually and when specific development proposals are brought <br />forward <br />• Funding Source: Housing Division Budget, Housing Grants <br />
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