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5_Exhibit B_Resolution_Attachment 2
City of Pleasanton
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2020 - PRESENT
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2023
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05-10
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5_Exhibit B_Resolution_Attachment 2
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5/4/2023 3:15:58 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/10/2023
DESTRUCT DATE
15Y
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A-68 | City of Pleasanton Housing Needs Assessment <br />affordability restrictions remain in effect in perpetuity (i.e., with no expiration), and the City is <br />unaware of any units that are at risk of conversion to market rate in the next 10 years. <br />Table A-17: Assisted Units at Risk of Conversion <br />Risk Level for Conversion Pleasanton Alameda County Bay Area <br />Low Risk 1,123 23,040 110,177 <br />Moderate Risk 0 167 3,375 <br />High Risk 0 189 1,854 <br />Very High Risk 0 106 1,053 <br />Total Assisted Units in Database 1,123 23,502 116,459 <br />Notes: <br />Universe: HUD, Low-Income Housing Tax Credit (LIHTC), USDA, and CalHFA projects. Subsidized or assisted developments that <br />do not have one of the aforementioned financing sources may not be included. <br />While California Housing Partnership’s Preservation Database is the state’s most comprehensive source of information on <br />subsidized affordable housing at risk of losing its affordable status and converting to market-rate housing, this database does not <br />include all deed-restricted affordable units in the state. Consequently, there may be at-risk assisted units in a jurisdiction that are <br />not captured in this data table. Housing Partnership uses the following categories for assisted housing developments in its <br />database: <br />Very-High Risk: affordable homes that are at- risk of converting to market rate within the next year that do not have a known <br />overlapping subsidy that would extend affordability and are not owned by a large/stable non-profit, mission-driven developer. <br />High Risk: affordable homes that are at-risk of converting to market rate in the next 1-5 years that do not have a known overlapping <br />subsidy that would extend affordability and are not owned by a large/stable non-profit, mission-driven developer. <br />Moderate Risk: affordable homes that are at-risk of converting to market rate in the next 5-10 years that do not have a known <br />overlapping subsidy that would extend affordability and are not owned by a large/stable non-profit, mission-driven developer. <br />Low Risk: affordable homes that are at- risk of converting to market rate in 10+ years and/or are owned by a large/stable non-profit, <br />mission-driven developer. <br />Source: ABAG 2021 Pre-certified Housing Needs Data (California Housing Partnership, Preservation Database <br />(2020)); California Housing Partnership, Preservation Database (2022) <br /> <br />A comprehensive inventory of all below-market rate (BMR) units in Pleasanton is included in <br />Tables A-18 and A-19. Of these projects, all except three are restricted in perpetuity. The three <br />projects with expiration dates are listed below with the year the project is at risk of converting to <br />market rate: <br />• Promenade Apartments – 2051 <br />• Kottinger Gardens Phase 1 – 2069 <br />• Kottinger Gardens Phase 2 – 2071 <br />Therefore, all deed restricted affordable housing units in Pleasanton are at low risk for conversion <br />to market rate units.
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