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to live in Pleasanton. She will not start a family until she can afford a family. It would be very sad for her to be forced to live in another city. This is a great program, but she urged Council to make the requested changes to make it the best program. Ms. Michelotti asked for clarification of the four person family. Mr. Erickson stated the four person household income was used as an index, but there is no restriction on household size. Ben Tarvet, 1144 Arak Court, spoke in support of this proposal. He indicated families of four typically have a larger income and that is the basis upon which you decide how much of the income can be applied to housing. When there is a single parent or two young adults, they will not have the level of income required to buy a single-family house. He strongly supported low income and very low income assistance. Moderate income assistance is not as necessary. The only low and very low income dwellings are condominiums and townhouses. He believed the Low Income Housing Fund should be for low income housing assistance. He understands the concerns for a return on equity, but by including condominiums and townhomes it is possible to put more families into a home in Pleasanton. Ms. Michelotti indicated the fund is actually $300,000 and there is a limit of $20,000 per individual loan. Ms. Dennis agreed there was a benefit in not limiting the type of housing and supported including condominiums and townhomes. She felt many people in the very low income category cannot afford to maintain a single-family home and we need to protect the housing stock. If there is a homeowners association for a condominium complex, it would be easier to manage. She also supported affordable rentals. Ms. Michelotti pointed out that condominiums and townhomes usually include homeowners fees that can be raised. She referred to the amount recommended for the fund and suggested a portion could be allocated to particular housing types. Mr. Erickson preferred that flexibility be allowed, because the market may not be there for a particular type of housing. It was moved by Mr. Pico, seconded by Ms. Denni.% to adopt Resolution No. 96-144, approving the guidelines for the CASA Second Mortgage Loan Program including townhomes and eondominiums; authorizing the City Manager to approve the applicable agreements and documentation for the program in a form approved by the City Attorney; and approving the allocation of up to $250,000 from the City's Lower Income Housing Fund for the pilot CASA program. Ms. Michelotti would like the Finance Department to review whether it was feasible to allocate the additional $100,000 to the program. 25 12/03/96