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SR 06:116
City of Pleasanton
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SR 06:116
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4/13/2006 3:57:13 PM
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4/13/2006 3:40:56 PM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
4/18/2006
DESTRUCT DATE
15 Y
DOCUMENT NO
SR 06:116
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<br /> <br />6B <br /> <br />pLEASANTONo <br /> <br />SUBJECT: <br /> <br />City Council <br />Staff Report <br /> <br />April 18, 2006 <br />Housing Division <br /> <br />REVIEW OF POTENTIAL FUTURE USES FOR THE CITY'S <br />LOWER INCOME HOUSING FUND <br /> <br />STAFF RECOMMENDATION: <br /> <br />SUMMARY: <br /> <br />Provide staff with direction regarding desired short and long-term uses for <br />the City's Lower Income Housing Fund. <br /> <br />The City Council is in the process of a General Plan review. As part of that <br />process, the City Council has requested an opportunity to fully review the <br />City Lower Income Housing Fund ("LII-IF") with the goal of establishing <br />priorities or goals for future expenditures to assist with developing an <br />affordable housing unit strategy. This approach recognizes that the long- <br />term growth of this fund is somewhat limited and as a result, it is necessary <br />to have a blueprint that enables these funds to be utilized in a manner <br />consistent with Council goals. Further, the use of this fund should be <br />related to meeting the City's short and long-term affordable housing needs, <br />including Pleasanton' s share of the Regional Housing Needs Determination <br />(RHND). <br /> <br />Honorable Mayor and Members of the City Council: <br /> <br />BACKGROUND: <br /> <br />In 1978, the City first established a Lower-Income Housing Fee ("fee") of $400 per unit for new <br />residential projects. Any unit that was affordable to a low income household (80% of the Area <br />Median Income, or AMI) was exempt from payment of the fee, and if at least 25% of the units <br />in a project were affordable at low income levels, the entire project was exempt from the fee. <br /> <br />The fee remained at $400 per unit until 1990, when the City made a major adjustment based on <br />the results of a detailed nexus fee study. At that time, separate fee rates were established for <br />single-family ($1,800 per unit) and multi-family ($600 per unit) residential projects. In addition, <br /> <br />SR:06:116 <br />Page I <br />
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