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16
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2008
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030408
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16
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2/29/2008 9:41:34 AM
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2/29/2008 9:41:34 AM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
3/4/2008
DESTRUCT DATE
15 Y
DOCUMENT NO
16
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• City-centered growth policies <br />• Projected household growth and household growth near transit <br />• Loss of affordable units contained in assisted housing <br />• High housing cost burdens <br />• Housing needs of farm workers <br />• Impact of universities and colleges on housing needs in a community <br />As an outcome of this process, the HMC developed an allocation methodology that <br />incorporates the following factors with the following weight of each factor: <br />• Household growth (45%) <br />• Existing employment (22.5%) <br />• Employment growth (22.5%) <br />• Household growth near existing and planned transit (5%) <br />• Employment growth near existing and planned transit (5%) <br />In addition to the above, the RHNA methodology specifies that these allocations must be <br />divided into specific household income categories including: <br />. Very Low Income -defined as households with income up to 50% of the Area <br />Median Income (AMI) which is currently $43,050 for a family of four; <br />. Low Income -defined as households with income between 50%AMI and 80% of <br />the AMI which is currently at $68,900 for a family of four <br />. Moderate Income- defined as households with income between 80%AMI and <br />120% of the AMI which is currently at $103,000 for a family of four <br />. Above- Moderate -which is defined as households with income above 120% AMI <br />While ABAG presented four income based allocation options, the HMC recommended <br />that the units be allocated consistent with the household income profile for the entire <br />region. In addition, to address the concern that this formula would not do enough to <br />compel higher income areas to address affordability, the adopted formula is based on <br />175% of the difference between a city's household income distribution and the regional <br />household income distribution as outlined in the 2000 Census. As a result, those cities <br />with a larger proportion of households in a specific income category will receive a smaller <br />allocation of units in that category. Conversely, cities with a relatively low proportion of <br />units in a particular income category will receive a higher allocation of housing units in <br />this category. Due to Pleasanton's relatively high income base, it receives a larger share <br />of the region's lower income units. <br />Page 3 of 5 <br />
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