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more than $2.7 million in the City's Lower Income Housing Funds were used to support the City in accomplishing its five year goals and objectives. A notable accomplishment includes the use of approximately $2.5 million in City Lower Income Housing Funds to complete the construction of the Parkview, a 105-unit assisted living residence with 31 below-market units targeted to very low- and extremely low-income seniors. We understand that the City's Lower Income Housing funds were combined with $1,500,000 from the California Housing Finance Agency (Ca1HFA} to support BRIDGE housing in the development of this project, which opened for occupancy in February 2007. As with other cities within Alameda County, Pleasanton has experience a dramatic increase in median home prices. In PY 2006, the median price of a single family home was $750,000 and $437,500 for condominiums. Significant barriers to homeownership include initial down payment and closing costs, and the high price of ongoing mortgage payment. The need for affordable housing is especially acute among very low-income renters and it is estimated that over seventy-five percent of exhemely low-income renters have difficulty finding suitable housing which they can afford. Despite the exorbitant land costs and strong community pressures to restrain developments, the City is committed to increasing the availability of affordable housing. Throughout PY 2006, the City continued to partner with private developers to promote the construction of afTordable housing in Pleasanton. Adopted since November 2000, the Inclusionary Zoning Ordinance's positive impacts to the City's affordable housing goals were felt during this program year. Specifically, we understand that 42 units of newly constructed condominiums within the Birch Terrace project and the Stoneridge Apartments were reserved atbelow-market rates for low-and moderate-income families. We are also pleased to note that the City combined $28,958 in CDBG funds with its Lower Income Housing Funds to address the performance measwement goal of preserving affordable rental and ownership housing to 1001ow- and very-low income families by 2009. During the reporting program year, 10 low- and very low-income homeowners, particularly seniors and disabled individuals, received repairs to their homes and seismic bracing services through the rehabilitation programs. The City continues to be an active partner of the Alameda County-wide Homeless Continuum of Care Council. In PY 2006, the City continued to combine Federal funds with local funds to further the performance measurement goal of increasing the availability of services and affordable housing to 30 homeless individuals and those who are at-risk of becoming homeless through the provision of housing scholarship programs and supportive services by 2009. An example of this effort includes the use of $12,000 in CDBG funds to support the Tri- Valley Affordable Housing Scholarship Program, managed by the Tri-Cities Homeless Coalition. During PY 2006, the program provided tenant-based rental subsidies for a maximum of two years and case management services to 7 formerly homeless families while family members enrolled in a job training program. We are pleased to report that all programs aimed at assisting the homeless or preventing people from becoming homeless were on target and a total of 225 homeless families and individuals have been assisted with transitional and permanent housing during this reporting program year.