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$271,300 in City fees for the Parkview assisted living facility that was recently completed on Sunol Blvd. In addition, the City provided the land for the project (a 3.6 acre site valued at $3.5 million) and $2.49 million in predevelopment and permanent loans, for a total of over $3.77 million in City assistance. The City will consider future requests for fee waivers on aproject-specific basis. City Lower Income Housing Fee The City has established a fee which may be paid by developers in lieu of constructing new affordable housing. In late 1998, the City completed an updated nexus study which resulted in a 30% increase to the residential component of the Lower Income Housing Fee (LIHF). After the recent adoption of the new Inclusionary Zoning Ordinance, the City determined to undertake a new study of the LIHF to consider a further increase. A new fee structure was approved by the City Council in May 2003. The current fee amounts are: $9,166 per unit for single family residential development; $2,272 per unit for multi-family residential development and single-family units 1,500 sq. ft. and under; and $2.49 per square foot for commercial, office, and industrial development. These fee amounts will increase based on the annual CPI adjustment. The fees collected from new development contribute to the Lower Income Housing Fund, which is used by the City to fund activities related to the construction or acquisition of affordable housing. The City has allocated Housing Funds during the past several years for several projects, including "The Promenade" Apartments (which includes 68 low and very low income apartments) and Stanley Junction Senior Apartments (86 below-market apartments for seniors). The City has also used an average of over $100,000 per year in Housing Funds to supplement several housing projects which sought funds under the CDBG program funding allocation process. In addition, the City has committed approximately $500,000 in Housing Funds over the past several years to start several loan programs (including the current down payment assistance program being funded in part with state HELP funds) to assist low and moderate income first-time home buyers with primary and second mortgages to enable the purchase of existing homes in Pleasanton. In 2001, the City used $250,000 in Housing Funds to buy down the sales price of five homes in the new Nolan Farm development by SummerHill Homes (described earlier). The five single-family homes were sold at abelow-market price of $130,000 (compared to a market value of over $400,000). The developer delivered the homes at a cost of $180,000, and the City provided $50,000 second mortgages. In addition, the Housing Fund was used to provide up to $20,000 in second mortgage loans for each of the buyers of the 56 below-market priced duet homes on the Bernal property. Action Plan - FY08 City of Pleasanton Psge 9