Laserfiche WebLink
Local Tax Revenues <br /> Local tax revenues may be used for a variety of areas related to community development to <br /> provide facilities and services. <br /> Redevelopment Tax Increment Funds <br /> The City of Pleasanton does not have a redevelopment area and, therefore, does not have a <br /> source of redevelopment tax increment funds to finance affordable housing and related <br /> activities. <br /> PRIVATE <br /> Community Reinvestment Act (CRA) <br /> Local lenders are encouraged by state, county, and local policies to provide favorable lending <br /> terms for projects which involve the provision of affordable rental and ownership housing. <br /> The City has encouraged developers of affordable housing projects to explore opportunities <br /> with local lenders in conjunction with the construction of their projects. In addition, CRA <br /> benefits have been a significant incentive in attracting prospective financial partners for City- <br /> sponsored loan programs and the new Tri- Valley Housing Opportunity Center (TV HOC) that <br /> was opened in 2005 through a collaboration of the five cities in the Tri- Valley area. <br /> Other <br /> Local foundations, faith communities, service organizations and private individuals <br /> contribute their support for a variety of homeless assistance and prevention programs, which <br /> serve Pleasanton. <br /> LEVERAGING PLAN <br /> For all housing and community development activities, the City of Pleasanton will support <br /> applications by other entities to all public and private sources of financing. In the case of matching <br /> requirements for a funding source, the City will use for a match such sources as City Lower Income <br /> Housing Funds, other local agency funds, publicly owned land, and private donations. To maximize <br /> leveraging of its own funds and to increase the funds available for housing, the City plans to <br /> undertake the following activities: <br /> Support the purchase and rehabilitation and construction of units by non profit housing <br /> developers. <br /> Continue participation in the Mortgage Credit Certificate (MCC) program operated by the <br /> County of Alameda. <br /> Action Plan FY10 <br /> City of Pleasanton <br /> Page 12 <br />