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