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Program 11.~: Use the low-income housing fund to help to <br /> finance affordable housing so as not to transfer additional costs to <br /> market-rate income units. <br /> <br /> Responsible Agency: City Council <br /> Time Period: Ongoing <br /> Funding Source: Low-Income Housing Fund <br /> <br />1996 EVALUATION: Objective met. Continue Program. Since 1991, this program has <br />resulted in approximately $1.7 million used as a guarantee against the mortgage for Ridge View <br />Commons and roughly $3 million to cover fee waivers, loans, and similar assistance for "The <br />Promenade" Apartments, Stanley Senior Apartments, and Parkview Apartments <br />affordable-housing projects. <br /> <br /> Program 11 .-7~: Use the low-income housing fund to purchase <br /> land, write down mortgage costs, rehabilitate units, subsidize <br /> rents, issue tax-exempt bonds, post loan collateral, pay <br /> pre-development costs, and otherwise help produce housing units <br /> affordable to low-income households. <br /> <br /> Responsible Agency: City Council <br /> Time Period: Ongoing <br /> Funding Source: Low-Income Housing Fund <br /> <br />1996 EVALUATION: Objective met. Continue Program. Since 1991, this program has <br />resulted in approximately $1.7 million used as a guarantee against the mortgage for Ridge View <br />Commons and roughly $3 million to cover fee waivers, loans, and similar assistance for "The <br />Promenade" Apartments, Stanley Senior Aparunents, and Parkview Apartments <br />affordable-housing projects. <br /> <br /> 18 <br /> <br /> <br />