SR 06:116 - Laserfiche WebLink

HOUSING COMMISSION RECOMMENDATION The Housing Commission reviewed this matter at its meeting of February 16,2006. Please refer to the attached draft minutes from the meeting (Attachment 2). As noted in the minutes, the Commission recommended a funding priority for the following three projects: Establishment of a reserve for Kottinger Place redevelopment - $3 million Establishment of a reserve for future new very low and low-income rental developments - 50% of fund Establishment of a reserve for establishment of a rental subsidy program to create new and/or increased affordability - $500,000 In addition, the Commission determined that the following projects were an important part of the City's affordable housing effort that warrant funding with the UHF. However, funding amounts would be determined as part of the annual budget process based on the specific qualities of the projects. The projects are: Support of regional opportunities and programs that promote or generate affordable housing Develop educational and resource programs informing the public of affordable housing programs Leveraging state and federal programs that provide opportunities for affordable housing Table F above, is generally consistent with the Commission's recommendation. Respectfully Submitted, :)~~~ Steven Bocian Assistant City Manager ,~ David P. Culver Finance Director Nelson Fialho City Manager Attachments: 1. Resolution No. 94-80, Policies and Guidelines for Use ofthe Lower-Income Housing Fund 2. Minutes of February 16, 2006 Housing Commission 3. Summary of Past Uses of the Lower Income Housing Fund 4. Chapter 17.40 of the Pleasanton Municipal Code regarding Lower Income Housing Fees 5. Summary oflnclusionary Zoning Provisions in the Tri-Valley Area SR:06:ll6 Page 10