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Through the federal Housing and Community Development Act of 1974, <br />the City has been authorized to expend $75,000 federal funds to <br />locate and secure interests in suitable sites for new subsidized <br />housing. Housing funds held in trust by the City from the growth <br />management program may also be used in conjunction with these <br />federal funds in order to secure sites. <br /> <br />By locating appropriate sites and holding them from the market, the <br />City can accomplish a valuable, often time consuming and frustrating <br />task for.the low and moderate income housing sponsor. A good deal <br />of front-end expense can be spared thus providing further incentive <br />and opportunity to build. <br /> <br />The City along with the Department of Housing and Community Develop- <br />ment has reviewed several possible landbanking sites. The sites <br />generally range from eight to ten acres in size. Ideally a site or <br />a portion of a site will be selected on which 50-100 units will be <br />built. The City presently is working with Eden Housing, Inc. and <br />the Chamber of Commerce to establish a local non-profit housing <br />corporation which will eventually select and develop a site. The <br />standards for site selection for subsidized housing are generally <br />accepted as those contained in "Appendix 13, Section 8 Housing - <br />Assistance Processing Handbook." Basically, in Pleasanton's case, <br />these standards relate to adequate nearby community facilities <br />and transit. <br /> <br /> Policy 9 <br /> <br /> ...to establish realistic benchmark goals in <br /> the provision of housing for lower income <br /> families and individuals. <br /> <br /> -22- <br /> <br /> <br />