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Project Name Year Built Rent 1 Sale Total Units Aff. Units Pere. Aff. Affordability Level Total Waiver 1 Subsidy Subsidy Per Aff. Unit Stanley Senior Apts. 1997 Rent 86 - 86 _- 100% Low/Very Low $1,214,850 - $14,126 - - - ThePromenadeApts. 1997 Rent 146 68 47% Low $1,719,820 $25,291 Town Square 1998 Sale 30 3 10% Moderate $150,000 $50,000 Archstone Hacienda Apts. 2001 Rent 540 135 25% Law $2,101,500 $15,567 Nolan Farms 2001 Sale 36 5 14% Very Low $250,000 $50,000 Greenbriar I Bernal Properly 2002 Rent/Sale - 581 87 15% LowNery Low __ $1,708,090 $19,633 Ponderosa I Busch Properly - 2005 Rent/Sale 362 138 38% LowNery Low $3,771,300 $121,655 -. Parkview Asst. Living Facility 2007 Rent 105 31 30% Very Law $1,012,749 $7,339 Windstar /BART Apts. 2010 Rent 350 70 20% Very Low $500,000 $7,143 2,236 623 28% $12.428,309 34 528 TOTAL AVERAGE As noted in the table, the City recently approved a waiver of approximately $1 million in City fees for the 172-unit senior apartment project that was recently completed on the Busch property in cast Pleasanton. [n 2003, the City Council also approved a waiver of $271,300 in City fees for the Parkvicw assisted living facility that was recently completed nn Sunol Blvd. fn 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 recently approved a waiver of $500,000 in park dedication fees to facilitate development of the Windstar / Bt1R'C apartment project. '1'hc City will consider future requests for fcc waivers nn a project- spccific basis. City Lower Income Housing Fee fhe City has established a fee which may be paid by developers in lice of constructing new affordable housing. [n late 1998, the City completed an updated nexus study which resulted in a 30% increase to the residcntial component of the Lower Income Housing Fee (LIHF). ACter the recent adoption of the new [nclusionary 'toning Ordinance, the City determined to undertake a new study of the LIHF to consider a further increase. Anew fee structure was approved by the City Council in May 2003. The current tee amounts are: $L0,053 per unit for single family residential development; $2,492 per unit for multi- family residcntial development and single-family units 1,500 sq. ft. and under; and $2.66 per square foot for commercial, office, and industrial development. 'these Eee amounts will increase based on the annual CP[ adjustment. The fees collected from new development contribute to the bower Income Housing Fund, which is used by the Cily to fund activities related to the construction or acquisition of affordable housing. "fhc City has allocated Housing Funds during the past several years for several projects, including "'Fhe Promenade" Apartments (which includes 68 low and very low income apartments) and Stanley Junction Senior [apartments (86 below-market apartments for seniors). Action Plan - fY09 City of 1'Icasn nton Yaffe 10