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City's line of credit was well below the maximum threshold of 1.50. The timely expenditure of CDBG funds is an important consideration for Congress during the annual appropriation process. We commend the City for encouraging affordable housing opportunities for low- and moderate income families and for continuing to use its CDBG funds strategically and creatively to benefit low- and moderate income families. Despite barriers such as increased land costs and community pressures to curtail additional development, the City continued to collaborate with private developers to promote the construction of affordable housing in Pleasanton throughout PY 2008. Examples of these efforts include the Archstone apartment project, the Nolan Farm first -time homebuyer program, the Gardens at Ironwood senior apartments, Bernal Property affordable duet homes and apartments, the Birch Terrace townhomes, the WindstarBART Apartments, the proposed Hacienda Business Park apartments, and the Stoneridge affordable condominiums. Furthermore, the City continues to operate its down payment assistance loan program and enforce its Inclusionary Zoning Ordinance. We understand that the down payment assistance program provides loans of up to $60,000 to low- income households and $40,000 to moderate income families to purchase existing homes in Pleasanton. We would be delighted to hear about the progress of the down payment assistance program in the future. Regarding the Inclusionary Zoning Ordinance, we are pleased to hear that the positive impacts of the Ordinance were felt during PY 2008 through several projects in which set -asides of affordable units were approved, specifically the Birch Terrace project, the WindstarBART apartments, Ponderosa/Lehman, and the Stoneridge Apartments condo conversion project. Since the City of Pleasanton receives a relatively small amount of entitlement funds, it has used its CDBG funds principally for public services, public improvements, and fair housing activities. Overall, the City continues to perform well in the use of its resources. Its staff continues to take a lead role in the activities of the Tri- Valley Affordable Housing Committee (TVAHC), which is comprised of representatives from the jurisdictions in the Tri- Valley area including Pleasanton, Livermore, Dublin, San Ramon, Danville, and the counties of Alameda and Contra Costa. Furthermore, the City's cooperation and collaboration with the cities of Livermore and Dublin in more than 10 housing programs are commendable. Our review of the CAPER and other available information confirms that the city has the continuing capacity to implement its CDBG program. We value our partnership with the City of Pleasanton and are available to assist the City in achieving its immediate and long -term affordable housing and community development goals. If you have any questions, please do not hesitate to contact me at (415) 489 -6598 or your Community Planning and Development (CPD) representative, Hataitip Bufiy -Feng, at (415) 489- 6573. O u1 AL y SIGNED BY MARIA F. CREMER Maria Cremer Acting Director Community Planning and Development Division Page 23 of 23