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Page 1 of 5 <br />Item #11 <br /> CITY COUNCIL AGENDA REPORT <br /> <br />October 1, 2024 <br />Community Development <br /> <br />TITLE: RECEIVE INFORMATION AND DISCUSS OPTIONS AND OPPORTUNITIES FOR <br />A PROGRAM TO SUPPORT AFFORDABLE HOUSING PROJECT(S) IN <br />PLEASANTON <br /> <br />SUMMARY <br />The City Council recently expressed renewed interest in how the City can more proactively <br />advance a program that would support the construction of a City-sponsored affordable housing <br />development in Pleasanton. This report provides the City Council with information, options, <br />and opportunities to discuss the development of a program to support affordable housing <br />project(s) in Pleasanton. <br /> <br />To develop and implement this affordable housing program, the staff is seeking input and initial <br />direction on a series of key items and discussion questions that will help inform the next steps <br />and efforts. <br /> <br />RECOMMENDATION <br />Receive information and discuss options and opportunities for a program to support affordable <br />housing project(s) in Pleasanton. <br /> <br />BACKGROUND <br />Pleasanton has an inventory of 1,267 affordable housing units, comprising 1,126 rental <br />housing units and 141 ownership units located throughout the city. In the ONE Pleasanton <br />Strategic Plan and the 2023-2031 Housing Element, the City committed to exploring creative <br />ways and innovative avenues to continue to support the construction of affordable housing for <br />residents and address homelessness. <br /> <br />City staff provided the City Council with a memorandum (Attachment 1) that includes a <br />summary of how affordable housing units in Pleasanton have been funded and constructed to <br />date. The memorandum also includes a survey of some of the programs, project types, and <br />resources that serve as a menu of options for City Council consideration, that could be <br />deployed to advance a program for a new City-supported affordable housing development, or <br />developments, in Pleasanton. <br /> <br />As outlined in the memorandum, there are many different types of projects the City could <br />pursue and support, each of which would differ in terms of funding, potential partnerships, <br />location and other key elements. As a starting point to help direct next-step efforts, staff is <br />seeking City Council input and direction on aspects such as the target population to be served <br />by a project, the type of housing, and the use of City resources, specifically the City's Lower <br />Income Housing Fund, and potentially City-owned land. <br /> <br />It is noted that all options and opportunities discussed in this report are focused on affordable <br />Page 61 of 90