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CITY OF PLEASANTON <br /> <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2022 <br /> <br />  <br />Note 3: Notes Receivable <br /> <br />The following table summarizes the notes receivable outstanding as of June 30, 2022. A brief <br />description of the funding sources for the housing loans are included in the table below. Detail <br />for all housing loans and miscellaneous loans follow. <br /> <br />Housing Loans: <br />Lower Income <br />Housing Fund HOME Fund CDBG Fund Amount <br />Low Income Housing Project Loans 3,248,062$ 160,000$ -$ 3,408,062$ <br />Affordable Housing/Rehabilitation Home Loans 438,256 1,153,987 435,742 2,027,985 <br />Senior Housing Project Loans 16,526,000 450,000 - 16,976,000 <br /> Total Housing Loans 20,212,318$ 1,763,987$ 435,742$ 22,412,047 <br />Miscellaneous Loans: <br />Valley Business Park Loan 5,728 <br />Sewer Connection Fee Loan 15,007 <br />Hacienda Business Park LED Project Loan 52,149 <br />Business Support Program Loans 1,292,900 <br />Hacienda Business Park Owners Association Loan 566,504 <br /> Total Miscellaneous Loans 1,932,288 <br />Total Loans 24,344,335$ <br />City Loans <br /> <br />Housing Loans <br />The City has loaned funds to private developers, individuals, and corporations for the <br />development of affordable housing for seniors and low income residents. Funding for these <br />loans are as follows: <br /> <br />Lower Income Housing Fund – Through its Lower Income Housing Fund (LIHF), the City <br />provides loans to private developers and individuals for the development and rehabilitation <br />of affordable housing for seniors and low income residents. Programs within the LIHF <br />include the Pleasanton Down Payment Assistance Loan Program (PDALP), the Housing <br />Rehabilitation Program (HRP), and the Pleasanton Homeownership Assistance Program <br />(PHAP). <br /> <br />HOME Fund – Through its membership in the Alameda County HOME Consortium, <br />the City receives an annual allocation of federal funds through the HOME Investment <br />Partnership Program (HOME). The City receives its annual allocation based on a formula <br />administered by the County of Alameda. The City has allocated its HOME funds primarily <br />to agencies and programs that provide housing to low-income persons and households. <br />HOME funds of $139,254 were received in FY 2021/22. <br /> <br />CDBG Fund – As an "entitlement city" with a population greater than 50,000, the City receives <br />an annual allocation of federal funds directly from the U.S. Department of Housing and <br />Urban Development (HUD) through the Community Development Block Grant (CDBG) <br />Program. The City makes its CDBG funds available annually for application by agencies that <br />provide housing and services to low income persons and households. CDBG funds of $577,496 <br />were received in FY 2021/22. <br />70