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Ms. Hosterman was willing to collect data about credits, although she had preconceived <br />notions. <br /> <br />Item 4t <br />Transfer from the Lower Income Housing Fund (271900) to the Capital Improvement Program <br />(CIP) for Fee Waivers approved as part of the Bemal Property. (SR 03:140) <br /> <br />It was moved by Ms. Ayala, seconded by Mr. Brozosky, to approve the transfer. <br /> <br />The roll call vote was as follows: <br />AYES: Councilmembers - Ayala, Brozosky, Campbell, Hosterman, and Mayor Pico <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None <br /> <br />There was a break at 10:02 p.m. <br /> <br />The meeting reconvened at 10:12 p.m. <br /> <br />Item 6b <br />Approval of an adjustment to the Ci~. 's Lower-Income Housing Fee. (SR 03:128) <br /> <br /> Steven Bocian presented the staff report. <br /> <br /> Ms. Ayala asked if the 2,306 units left to be built will subsidize the 465 affordable <br />housing units. <br /> <br /> Mr. Bocian said they would provide a portion of the subsidy. <br /> <br /> Mayor Pico said new rental housing that is affordable in perpetuity does not cost the city <br />anything monthly. It costs up front through waiver of fees. <br /> <br /> Mr. Bocian said if the units meet the requirements of the inclusionary zoning ordinance, <br />there is no fee because it is automatically waived. <br /> <br /> Ms. Ayala said if the city subsidized a rental unit, it would cost about $40,000 for thirty <br /> <br />years. <br /> <br /> Mr. Bocian said that was correct, but the City is not subsiding any rental units now nor <br />does it plan to. <br /> <br /> Ms. Ayala thought the perpetuity committee was looking at that. <br /> <br /> Mayor Pico said the committee is looking at affordability in perpetuity using whatever <br />concept is necessary. <br /> <br />Pleasanton City Council 17 05/20/03 <br />Minutes <br /> <br /> <br />