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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 96-144 <br /> <br /> RESOLUTION ESTABLISHING GUIDELINES FOR A <br /> COMMUNITY ASSISTED SHARED APPRECIATION <br /> (C.A.S.A.) SECOND MORTGAGE LOAN PROGRAM IN <br /> PLEASANTON <br /> <br />WHEREAS, the City of Pleasanton has specific policies within its General Plan Housing <br /> Element which place a priority on for-sale housing that is affordable to households <br /> with income levels in the low- and moderate-income categories; and <br /> <br />WHEREAS, the City has an affordable housing program which encourages and supports <br /> affordable rental and for-sale housing in Pleasanton; and <br /> <br />WHEREAS, the City has a Lower Income Housing Fund that is funded, in part, from the <br /> payment of a Lower Income Housing Fee assessed of new residential and <br /> commercial development and that is used to support the City's affordable housing <br /> efforts; and <br /> <br />WHEREAS, the City Council promotes a variety of strategies to support affordable housing in <br /> Pleasanton; and <br /> <br />WHEREAS, at its meeting of December 3, 1996, the City Council reviewed the report of the <br /> Assistant City Manager (SR:96:345) regarding the establishment of guidelines for <br /> a Community Assisted Shared Appreciation (CASA) second mortgage loan <br /> program in Pleasanton; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1: Council adopts the Community Assisted Shared Appreciation (CASA) Second <br /> Mortgage Loan Program Guidelines as described in the attached "Exhibit A" to be <br /> used for the administration and operation of a CASA second mortgage loan <br /> program in Pleasanton. <br /> <br /> <br />