RES 98154 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 98-154 RE SOLUTION APPROVING AFFORDABILITY PROVISIONS FOR CITY-OWNED RESIDENTIAL PROPERTY LOCATED AT 4242 VERVAIS AVENUE WHEREAS, the City of Pleasanton has specific policies within its General Plan Housing Element which place a priority on the provision of housing at costs which are affordable to households with a range of different income levels; and WHEREAS, the City has an affordable housing program which encourages and supports the production of affordable rental and for-sale housing in Pleasanton; and WHEREAS, the City Council promotes a variety of strategies to support the provision of affordable housing in Pleasanton; and WHEREAS, the City desires to make available City-owned residential property located at 4242 Vervais Avenue for rental by lower income households as part of its below-market rental program; and WHEREAS, at its meeting of December 1, 1998, the City Council reviewed the report of the Housing Division (SR 98:322) regarding the approval of affordability provisions for City-owned residential property located at 4242 Vervais Avenue; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: Council hereby designates the property located at 4242 Vervais Avenue as a rental unit and directs that it shall be added to the City's existing stock of below-market rental housing at the time of expiration of the current lease on June 30, 1999. .Section 2: Council approves an allocation of approximately $3 15,000 from the City's Lower Income Housing Fund, approximately $285,000 will be used to transfer the property out of the Gas Tax Fund, while approximately $35,000 will be used to finance needed rehabilitation work. Section 3: This resolution shall become effective immediately upon its passage and adoption.