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the highest priority for approval and funding (Housing Element Program 18.5, and Policy 26) - Housing developments with at least 25 percent units affordable to extremely low, very -low and low-income households to have the second highest priority for approval. (Housing Element Policy 27) - Projects that provide "seed money" for State and Federal Tax Credits to promote affordable housing. (Housing Element Policy 24) - Projects which accommodate the needs of special housing groups such as for persons with physical, mental, and/or developmental disabilities, and persons with extremely low -incomes. (Housing Element Program 43.4) - Programs to provide low-interest loans for developing three bedroom rental units affordable to large low- and very low-income households (Housing Element Policy 47 and Programs 47.2 and 47.3) In addition to the above -listed priorities that are specifically called out in the existing Housing Element, the Affordable Housing Fees (a.k.a. LIHF) Chapter 17.40 of the PMC also notes, in Section 17.40.040.C.: "When the city uses affordable housing fund moneys to construct or assist in the construction of lower-income units, the city may establish the rules which will apply to occupancy of said units. It is the intention of this chapter to and the general plan that such units be made available on a priority basis to Pleasanton residents and workers." Z In reviewing the listed policies and priorities, staff believes they provide reasonable guidance that aligns well both with the most important housing needs in the community, particularly the groups for which state law dictates a particular or special effort must be made to serve. In recognition that housing projects are often opportunistic, it is likely in the City's interest to retain flexibility and discretion in how to allocate the LIHF, rather than set up a more rigid framework of policy preferences for allocation of City housing funds. However, the Planning Commission may wish to weigh in on whether other priorities should be established, or an alternative approach taken to that which is in place today. Note that, in prior meetings, the Planning Commission and Housing Commission have expressed an interest in supporting workforce housing production, specifically, housing for those who work locally in Pleasanton, but cannot afford to live here. To the extent that affordable housing policies address the needs of working households in the very -low, low - and moderate -income brackets, the expenditure of LIHF addresses this need. However, staff understands the desire to also proactively encourage housing for households whose income would technically place them in an "Above -Moderate" income category based on AMI, yet cannot afford the typically -priced housing unit in Pleasanton. Staff would suggest 2 It should be noted that, while the Ordinance's policy intention is clear, many affordable housing projects have used a combination of local- and non -local sources of funding; the majority of these funding sources come with limitations on the types of preferences that may be set and may preclude an explicit local preference being established or used as the primary basis for determining eligibility for a housing unit. Housing Element Update, P21-0751 Planning Commission 9of13