03 ATTACHMENT - Laserfiche WebLink

utilize its Housing Fund (supported through payment of the Lower [ncome Housing Fee by developers) to tinance activities promoting affordable housing. Land Costs The City does not have ownership of any significant parcels of land at the present time. Cherefore, the market cost of land is posing an ongoing constraint to new affordable housing development in which the City has direct invoivement. However, the City has worked and will continue to work with individual developers and with the owners of large land holdings to attempt to reserve additional sites for affordable housing development during the five-year Strategic Flan period. As described earlier, the City was recently successful in negotiating a 15 percent set-aside of affordable housing units (31 rental units for low and very low income households; 56 ownership units (or low income tirst-time home buyers) on a 200 acre portion of the 500 acre Bernal property south of the Alameda County Fairgrounds, which will ultimately accommodate a total of 58l new housing units and new commercial development. "['his agreement also resulted in the dedication of the remaining 318 acres to the City of Pleasanton for "public uses." "fhe acquisition of this land will provide the City with new flexibility and opportunities to consider options for new housing development should future conditions and community needs warrant. The adoption of an [nclusionary 'Coning Ordinance in late 2000, accompanied by an updated General Plan Housing Element (April 2003), have yielded positive results in the form of discussions of possible land dedication in lieu of builders providing affordable housing units. Housing llevelopmcnt Costs The City will continue to work to offset the costs of housing development by waiving certain City fees for affordable rental and ownership housing units and by providing various types of subsidies through the use of its bower Income Housing Fund. "Chc example was cited earlier in this report of extensive fee waivers that have been granted in the past to defray development costs and promote affordable housing construction. Community Perceptions of Affordable Flousin~ A continuing impediment to affordable housing development is the sometimes negative perception of affordable housing held by many members of the public. The City of Pleasanton provides funding to Fast Bay Housing Organizations (F,BHO) to implement an ongoing program aimed at improving residents' perceptions and understanding of affordable housing. The goal is to Foster greater acceptance of new affordable housing so that negative public sentiment is not an impediment to the City's efforts to create and maintain its affordable housing stock. Pleasanton collaborated with its neighbor cities in the "fri-Valley to hold a tour oFaffordable housing developments and issues in February 2009. Action Plan - FYO') City of 1'leosanton Page 31