Laserfiche WebLink
33 | City of Pleasanton 2023-2031 Housing Element <br />Goal 2: Use a range of tools and methods to facilitate housing production, <br />reflecting a range of housing types, sizes, affordability levels, and tenure, and <br />provide access to housing opportunities that meet the diverse needs of the <br />community. <br /> <br />Policies <br />Policy 2.1 <br />Use the Lower-Income Housing Fee (LIHF) to support the production of and access to housing <br />affordable to extremely low-, very low- and low-income households, with the objective of using <br />the Lower Income Housing Fund in a manner consistent with the City ordinance, and to support <br />affordable housing, particularly developments proposed by non-profit developers that include a <br />high proportion of affordable units, suitable to accommodate a variety of different household types <br />and sizes, including units with more than two bedrooms and suitable for large families. Use of the <br />LIHF may include but is not limited to the following uses of funds: <br /> To supplement and leverage State and Federal funds (i.e., provide “seed money”) in the <br />development of housing affordable to very low- and low-income households and in-house <br />loan programs, so that the fund may be used most efficiently and maintained over time. <br /> Advance homeownership opportunities, for example, through First Time Homebuyer <br />Assistance Programs that write down mortgage costs. <br /> Purchase of land for affordable housing, and to support construction of housing on City- <br />owned land. <br /> Extend affordable rent restriction agreements and avoid loss of at-risk units. <br /> Provide rental assistance to qualifying lower-income households. <br /> Rehabilitate existing housing. <br /> Support development of affordable housing, through issuance of tax-exempt bonds, <br />posting of loan collateral, payment of pre-development costs. <br /> To otherwise provide direct financial and technical support to help produce housing units <br />affordable to lower-income households. <br /> <br />Policy 2.2 <br />When considering how to utilize the City’s Lower Income Housing Fund for specific housing <br />developments, consider the ability of the project and developer (i.e., non-profit and/or for-profit) <br />to successfully secure funding and the likelihood of the project to be developed, and prioritize <br />allocation of funding accordingly. <br />