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<br />exact number, it is assumed that the target will result in a City housing unit target that exceeds <br />the voter approved cap of 29,000 housing units. Once ABAG releases the housing targets later <br />this year, staff and the Council will have a better understanding of the exact impact of this <br />process and will be able to begin the process of updating the Housing Element to incorporate the <br />new targets. <br /> <br />FINANCIAL IMPACT <br /> <br />There is not financial impact as a result of this recommendation. <br /> <br />Respectfully Submitted, <br /> <br /> <br />~) 7 ?:::ve-J 6----- <br /> <br />Steven R. Bocian <br />Assistant City Manager <br /> <br />Nelson Fialho <br />City Manager <br /> <br />Attachment 1 - Letter from Mayor Hosterman <br />Attachment 2 - Memo from Paul Fassinger, ABAG Research Director, dated December 8, 2006 outlining the <br />Draft Regional Housing Needs Allocation Methodology (Draft Methodology) <br />Attachment 3 - Memo from ABAG Staff dated January 4, 2007 outlining alternative income allocation methods <br />Attachment 4- Draft housing Commission minutes of December 20, 2007 (Excerpt) <br /> <br />Page 7 <br />