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Strategic Plan and Housing Element Alignment <br />•ONE Pleasanton Strategic Plan: <br />•Goal E: Building a Community Where Everyone Belongs <br />•Strategy 6: Implement the Housing Element and develop a plan to end <br />homelessness <br />•Strategy 10: Establish a partnership with a non-profit developer to secure a <br />site and develop an affordable housing project. <br />•2023-2031 Housing Element – various policies, including: <br />•Policy 2.1: Use the LIHF to support the production of housing affordable to <br />extremely-low, very-low and low-income households <br />•Program 1.5: Acquire and/or assist in the development of one or more sites for <br />housing affordable to lower-income households <br />What is Affordable Housing? <br />•HUD Definition: Housing on which no more than 30% of gross income is paid for housing costs <br />•Rental projects: Includes monthly rent and utilities <br />•Ownership projects: Includes mortgage payment, property taxes, insurance, and HOA fees <br />•Generally, affordable projects target up to 80% AMI (low-income) for rental and 120% AMI <br />(moderate income) for homeownership units <br />•Income and Rent Limits for Alameda County based on County AMI <br />•Deed restrictions recorded against property specify affordability levels and term <br />(min. 55 years, or longer per local ordinance) <br />Income Category Income Limit (4-person household) <br />50% AMI $77,850 <br />100% AMI $155,700 <br />120% AMI $186,850 <br />Page 82 of 90