SR 06:116 - Laserfiche WebLink

C. Discussion of Options for Future Uses for the Lower Income Housing Fund Steven Bocian gave background information on this item. The City Council requested that staff prepare a report regarding potential uses of the UHF so that it could develop priorities for the future use of the fund. The attached report provides information about the history of the lower-income housing fee which provides the revenue to the UHF, past uses of the fund, and an estimate of future revenue. Mr. Bocian noted that staff has refined the table on page 4 to include the impact of the Inclusionary Zoning Ordinance and revenue from existing loans which results in less future revenue than indicated in the staff report. He described staffs methodology for making the adjustments. Mr. Bocian stated that staff has tried to provide the Commission with a general outline of some of the potential future uses for the fund. He noted that both the Housing Commission and the City Council may also wish to prioritize projects that are consistent with the City's Housing Element and with regional housing needs. Mr. Bocian noted that, although staff has tried to attach dollar amounts to some of the activities, these are only estimates as most of these projects are not yet under way. He stated that staff feels it is important to take a conservative approach with expenditures so that funds are available for projects in the future. Mr. Bocian also noted that there is an interest in the community to get more affordable units. Mr. Bocian stated that staff is looking for the Housing Commission's input and consensus on the projects and activities listed in the report and any new ones the Commission would like to add. The Commission's recommendations will be forwarded to the City Council in March. Chairperson Harris asked that the Commission first ask questions of staff, then listen to members of the public, and then provide comments to staff. Commission Stark asked for an update on the Kottinger Place Redevelopment Task Force. Mr. Bocian stated that staffis planning a meeting for March 2. Six proposals have been received from the RFQ for Phase I of the project. The task force and staff will identifY a "short list" and will then meet again at the end of March to select a consultant. Phase II of the project involves a feasibility analysis that will consider a range of issues including the potential merger of Kottinger Place and Pleasanton Gardens, financing of the project, construction budget, a general site plan, and related matters. Commissioner Jones asked if the project will involve increasing the existing number of units. Mr. Bocian stated that one of task force's goals is to increase the number of units on the site. The specifics will be worked out in Phase II. Commissioner Whisnand asked if the special financing programs discussed in the staff report are targeted at service workers such as teachers or firefighters. Scott Erickson Page - 6-