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02 ATTACHMENT 2
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2023
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012623 SPECIAL
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02 ATTACHMENT 2
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1/20/2023 5:43:46 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
1/26/2023
DESTRUCT DATE
15Y
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\CITY CLERK\AGENDA PACKETS\2023\012623 SPECIAL
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DRAFT <br />39 | City of Pleasanton 2023-2031 Housing Element <br />Program 2.10 <br />Continue to monitor, on an annual basis, forthcoming State legislation and support legislation that <br />seeks to improve and make more accurate and transparent the RHNA process, and that which <br />provides funding, and financial and other incentives to strengthen local jurisdictions’ abilities to <br />meet their fair share responsibilities, while retaining an appropriate degree of local control over <br />land use and planning decisions. <br />• Responsible Agency: Planning Division <br />• Time Period: Ongoing (annually) <br />• Funding Source: Planning Division Budget <br /> <br />Program 2.11 <br />The City will analyze and explore State programs and/or potential public/private partnerships with <br />major employers to acquire existing market rate housing units or develop new housing units to <br />create moderate or workforce housing (available to households with incomes at 80 percent to 120 <br />percent of AMI). Potential programs could include concessions or incentives to large existing or <br />future Pleasanton employers when they agree to construct or fund workforce housing beyond <br />payment of in-lieu fees, and/or collaborations between employers and developers to construct <br />workforce housing. <br />• Responsible Agency: Planning Division <br />• Time Period: Analyze State programs biannually (2024, 2026, 2028, and 2030); Outreach <br />to current and/or future major employers (2025 and 2027) <br />• Funding Source: Planning Division Budget, Housing Division Budget, developer funds <br /> <br />Program 2.12 <br />The City will promote and administer the Pleasanton Down Payment Assistance Loan Program <br />(PDALP), which currently offers $100,000 in down payment assistance loan for potential first-time <br />homebuyers whose household income does not exceed 120 percent of Area Median Income <br />(AMI). Assistance is in the form of a 30-year, zero interest loan with no required monthly payment <br />provided the homeowner occupies the home. The PDALP loan is structured as a shared <br />appreciation loan with the principal balance amount plus a share of the appreciation due at the <br />end of the 30-year term or when the homeowner sells or transfers the property. <br />• Responsible Agency: Housing Division, Planning Division <br />• Time Period: Ongoing <br />• Funding Source: Lower Income Housing Fund, Housing Division Budget
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