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<br />Mr. Thorne asked staff to explain the difference between the 1,268 units and the note at <br />the bottom of page three of the staff report that indicated the total number of unmet units is <br />1,159 units. <br /> <br />Mr. Bocian referred to the power point presentation and pointed out 2,714 units <br />exceeded the regional amount. In essence, the actual number of units is less than that amount. <br />The RHND target is 5,059 housing units. <br /> <br />Mr. Thorne asked for the total amount of available funding in the Low-Income Housing <br />Fund? <br /> <br />Mr. Bocian said approximately $7 million dollars was available and through build out, <br />approximately $17 million dollars. <br /> <br />Mr. Brozosky inquired about the status of the report for the use of the Low-Income <br />Housing Fee. <br /> <br />Mr. Bocian said the Housing Commission has reviewed this report. <br /> <br />Mr. Fialho said this report would be presented to Council either in April or May. <br /> <br />Mr. Brozosky asked if ABAG allowed cities to buy down existing units. <br /> <br />Mr. Bocian said yes. It was his understanding that the City would be allowed to convert <br />existing market-rate units to affordable units and have them count as affordable units with <br />restrictions towards meeting the regional need. Historically, the City has been able to have <br />modern income rental units met without restriction, but low and very-low income requirement <br />restrictions. <br /> <br />Mr. Brozosky asked if it was possible to build low or very-low income market rate units <br />without a subsidy. <br /> <br />Mr. Bocian was not certain that a subsidy was needed. There are restrictions in terms of <br />how these units are rented. The units are restricted because they are below market-rate. In the <br />past, there have been developments in the City that the City has not contributed to but the <br />developments have provided low-income units. <br /> <br />Mr. Brozosky did not believe a unit by itself could not be low or very-low income without <br />some type of subsidy. <br /> <br />Mr. Bocian said potentially, a developer could elect to provide affordable units on Site A <br />because it would generate a certain amount of income on Site B. A developer could transfer <br />profits from Site B to Site A. Not withstanding those unique situations, almost all affordable <br />housing has some type of State financing or subsidy from a City that makes it successful. <br /> <br />Mr. Brozosky inquired about the definition of high density as outlined in the General <br /> <br />Plan. <br /> <br />Pleasanton City Council <br />Minutes <br /> <br />5 <br /> <br />04/04/06 <br />