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The City has also used an average of over $100,000 per year in Housing Frmds to supplement several housing projects which sought funds under the CDBU program funding allocation process. [n addition, the City has committed approximately $500,000 in I [ousing 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. [n 2001, the City used $250,000 in Housing Funds to buy down the sales price of live homes in the new Nolan Farm development by SummerEIill IIomes (described earlier). 'fhe five single-family homes were sold al abelow-market price of $130,000 (compared to a market value of over $400,000). 'fhe developer delivered the homes at a cost of $180,000, and the City provided $50,000 second mortgages. [n addition, the Housing Fund was used to provide up to $20,000 in second mortgage loans for each of the buyers of the Sfi below-market priced duct homes on the Bernal property. Recently, the Pleasanton City Council approved the use of F[ousing Funds, starting with a new allocation of $250,000, to continue the operation of the Down Payment Assistance program using 100% local funding (the program was formerly funded in part through CaIHPA HE[,P fonds). The Council will consider additional [lousing Fund allocations to this program as needed. Lead Abatement Because of the relatively young age of Pleasauton's housing stock, the City does not currently participate in the existing Joint Powers Authority (JPA) for Lead-Based Paint Abatement. However, the City recently worked jointly with the Alameda County Lcad Poisoning Prevention Program and the City of Livermore to produce a professionally designed color brochure which was sent to home owners in housing built prior to 1978 and to programs and facilities whose clients are young children. "fhe City will continue to monitor this issue and may consider future participation in the JPA. Local Tax Revenues Local tax revenues may be used for a variety of areas related to community development to provide facilities and services. 12edevelopment Tax Increment Funds The City of Pleasanton does not have a redevelopment area and, therefore, does not have a source of redevelopment tax increment funds to tinance affordable housing and related activities. Action Plan - I' VU9 City of Plcasa nlon 1'aAe I I