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The roll call vote was as follows: <br />AYES: Councilmembers -Dennis, Michelotti, Mohr, Pico, and Mayor Tarver <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None <br /> <br />ReviSiOns to the Lower-Income Housing Fee <br /> Ms. Micheloff thought it was appropriate to look into the legal ramifications of this. <br /> <br /> Mr. Beougher said staff had not thoroughly looked into it as yet. <br /> <br /> Mr. Tarvet felt this should be done based on the requirements of AB 1600. <br /> <br /> Ms. Mohr believed Pleasanton should use part of its lower-income housing fund in a <br />Section 8-type program. For $200 a month, we could lower the rent on a private unit. That <br />would be much cheaper than trying to build units. If $2 million were set aside from the lower- <br />income housing fund to generate interest. That money could then be used to buy down 25-30 <br />rental units. There is no way to build that many units for that price. <br /> <br /> Mr. Rasmussen indicated that could be reviewed in conjunction with the next program <br />being considered. <br /> <br /> It was moved by Mr. Tarver, seconded by Ms. Mohr, to adopt the Planning <br />Comml~ion recommendation to modify Program 11.1 on page IV-22, to read as follows: <br />"Modify and revise the lower-income housing fee annually in conformance with AB 1600, <br />and consider changing the basis of the residential fee to reflect the house and pared size." <br /> <br />The roll call vote was as follows: <br />AYES: Councilmembers - Dennis, Michelotti, Mohr, Pico, and Mayor Tarver <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None <br /> <br />Low-Interest Loans <br /> <br /> Ms. Mohr. wanted to modify this to expand it to include rental subsidies for low income <br />families. She indicated the low income rate set by HIJD is the current standard. That wffi <br />change over the next few years as the rental unit supply is not adequate to keep up with demand. <br />If the City could buy down an $800 per month apartment to a $600 rate, we could provide the <br />equivalent of low income housing like Section 8. That could be done with interest from the <br />lower-income housing fund, like a trust fund. The City could provide more units at less cost <br />by using the units that are available in the regular market place. <br /> <br />07109196 -19- <br /> <br /> <br />