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Program 7.9: Use the lower-income fee to generate funds for the <br /> provision of lower-income housing. <br /> <br /> Responsible Agency: City Council <br /> Time Period: Ongoing <br /> Funding Source: Lower-Income Housing Fund <br /> <br />1996 EVALUATION: Objective met. Continue Program. The lower-income housing fee was <br />increased from $400 per unit to $1,800 per unit for single-family and $600 per unit for <br />multiple-family residential development in 1990. In addition, a new fee of $0.40 per square foot <br />was established for commercial development. The fees were subsequently increased in 1993 to <br />$1,954 for single-family, $651 for multiple-family, and $0.43 for commercial development <br />consistent with the increase in the Consumer Price Index as provided in the revised fee <br />ordinance. With the fee increase, the lower-income housing fund has continued to build. <br />During the period from 1990 to 1995, the approximately $2 million of the fund was used to fund <br />second mortgages for two affordable-home-ownership programs, to cover City fee waivers for <br />several affordable-housing projects, and to provide loans and related assistance for "The <br />Promenade" Aparunents. <br /> <br /> Program 7.10: Seek alternative, non-traditional means suited to <br /> the community to f~l lower- and moderate-income housing needs, <br /> and to preserve the affordability of assisted-housing units. <br /> <br /> Responsible Agency: Planning Department <br /> Time Period: Ongoing <br /> Funding Source: Planning Department Budget <br /> <br />1996 EVALUATION: Objective met. Continue Program. One of the most significant projects <br />during the 1990-95 review period was "The Promenade" Apartments. This project was <br />developed through the efforts of the Mayor's Affordable Housing Task Force and was <br />specifically designed as a mixed-income development (47 percent of the 146 units are targeted <br />to low- and very-low-income households) which was felt to be more suited to the community <br />than a 100 percent affordable project. The City has also negotiated successfully to secure <br />regulatory agreements for two privately-developed senior apartment complexes in which the units <br />will be affordable at several different income levels (80 percent, 60 percent, and 50 percent of <br />median income). <br /> <br /> 9 <br /> <br /> <br />