RES 92158 - Laserfiche WebLink

July 1, 1990 to June 30, 1995 July 1, 1995 to June 30, 2000 July 1, 2000 and beyond. The inventory includes all multifamily rental housing projects that either have been or are now receiving governmental assistance and are eligible to change to non-low-income housing due to termination of' subsidy contracts, mortgage prepayment, or expiring use restrictions; and which are currently assisted under any of the following programs: State or local multifamily housing revenue bond programs; Federal Community Development Block Grant Program; Local in-lieu affordable housing~fee program; Local inclusionary housing program;.and/or Density bonus or direct government assistance programs. Since the City does not have a redevelopment agency, tax increment financing is not a potential source for housing which might otherwise be available. In addition to providing at-risk housing data, the inventory also includes information regarding bedroom mix because of its direct affect on estimating housing replacement costs later in this Report. Information is further provided on project age and building condition to assist in the determination of whether any of the projects are likely to need rehabilitation. Inventory]tnalysis An analysis of the projects referenced in the inventory has been undertaken to allow for the identification of actions which the City can take to either preserve the existing units with affordable controls for the longest feasible time or to replace' them where possible. Due to the range of potential options that exist for the City, the presence of conversion dates within the ten-year planning period alone does not necessarily mean that the affordability of these projects need automatically terminate. Federal and state regulations affect the feasibility and timing of the termination of low-income use restrictions, and also provide specific opportunities for local government and nonprofit organization to preserve these units. In addition, some projects under nonprofit ownership may be technically eligible to convert, but be unlikely to actually do.so. The analysis and programs provided in this Report reflect an awareness of these opportunities. As of July 1, 1990, there were 15 apartment complexes in Pleasanton which provided a total of 847 units for low-income households. Of this total, 289 were reserved for the elderly and 558 for other qualifying low income households. These units are supported by a .variety of assistance sources, including: HUD Section 236 funding, - 2 -