SR 06:116 - Laserfiche WebLink

presented in the staff report. He noted that Pleasanton Gardens opened its waiting list about six months ago for the first time in about five years. In two days, 142 applications were distributed. Eighty of those applications came back within the deadline time, and with the assistance of the staff of ECHO, they conducted a lottery and added 50 applicants to the waiting list. Ofthose 50 applicants, more than 90% are extremely low income. From this experience, Mr. Fiedler feels an emphasis should be placed on getting as many rental units as possible because persons with the greatest need are not going to be able to become home owners. Mr. Fiedler emphasized that the use of the fund as a supplement to the CDBG program is very valuable because it promotes the preservation of existing affordable housing. He further stated regarding rental subsidies that there may be greater efficiency if the assistance is directed to persons who are in tax credit locations. He recommended that the Commission focus on efficiency since the funds are very limited. He thanked the Commission for its efforts. Commissioner Stark indicated he would like to stay updated regarding the Kottinger Place redevelopment project which he believes is a viable project and should be a top priority. Chairperson Harris stated that the Kottinger project is going to take a lot of money and he is concerned how many other projects can realistically be implemented. He would prefer not like to see a lot of money spent on a regional project but would like the money kept in town. He would like to see a large block of money go to Kottinger Place or some other new project that has not yet come along. In response to a question from Commissioner Stark, Steven Bocian clarified that the Commission can select the projects identified by staff or make its own list. He stated that the $3 million recommended by staff to be set aside for Kottinger Place will not be nearly sufficient to fully fund the project. A decision has to made about how much money the City would put towards a project like Kottinger Place. The Commission discussed this issue. Commissioner Stark stated that he would really like the Commission to look at the CDBG supplement and the leveraging of the CalFHA resources. A discussion took place regarding this issue. Vice Chairperson Hodgett stated that prioritizing the Kottinger Place project, at least for now, makes a lot of sense, as well as reserves for future projects with units targeted to very low and low income households. She is wary of promoting rental subsidies as she feels you get no permanent benefit as opposed to contributing to a project where you buy the unit and it is there for a long time. Page - 8 -