PC-2023-09 - Laserfiche WebLink

2023-2031 Housing Element City of Pleasanton | 44  Funding Source: Planning Division Budget, Housing Division Budget, developer funds Program 2.12 The City will promote and administer the Pleasanton Down Payment Assistance Loan Program (PDALP), which currently offers $100,000 in down payment assistance loan for potential first-time homebuyers whose household income does not exceed 120 percent of Area Median Income (AMI). Assistance is in the form of a 30-year, zero interest loan with no required monthly payment provided the homeowner occupies the home. The PDALP loan is structured as a shared appreciation loan with the principal balance amount plus a share of the appreciation due at the end of the 30-year term or when the homeowner sells or transfers the property.  Responsible Agency: Housing Division, Planning Division  Time Period: Ongoing  Funding Source: Lower Income Housing Fund, Housing Division Budget  Quantified Objective: PDALP loans issued to twofour additional moderate-income households through January 2031 (the City is currently servicing 15 PDALP loans)  Geographic Targeting: Moderate-income households living in Pleasanton or relocating to Pleasanton Goal 3: Conserve and improve the existing housing stock. Policies Policy 3.1 Encourage the maintenance of safe, sound, and well-kept housing city-wide, and over time, eliminate all substandard housing conditions within the community with substantial progress by the end of the planning period. Policy 3.2 Preserve the existing stock of mobile homes and mobile home parks and permit mobile homes and factory-built housing on appropriately located sites. Policy 3.3 Preserve the affordability of restricted units affordable to extremely low-, very low- and low-income households for the longest term feasible, including requiring such units to be deed-restricted in