CITY COUNCIL REGULAR MEETING AGENDA PACKET

Ordinance No. Page 4 of 32 P24-0505, Pleasanton Municipal Code Amendments City Council, November 17, 2024 Exhibit A, PMC Amendments, Page 4 § 17.40.070. Annual adjustment of the fee. The affordable housing fee shall annually be revised effective January 1st of each year, commencing on January 1, 1992, by the percentage increase or decrease in the Engineering News Record Consumer Construction Price Cost Index for the San Francisco San Francisco/Oakland region Bay Area. (Ord. 1488 § 1, 1990; Ord. 2192 § 2, 2019) § 17.40.080. Establishment of affordable housing fund. A. All fees generated pursuant to this chapter shall be deposited into the affordable housing fund, and any property interest or other value contributed, including interest earned by the fund, shall be segregated and used exclusively for the purposes provided for herein. B. The city manager shall make a written annual report to the city council regarding the administration of the affordable housing fund, and shall present such annual report at a regular meeting of the city council. C. Pursuant to Government Code Section 66000, et seq., the city shall make findings once each fiscal year with respect to any portion of the fees remaining unexpended or uncommitted in its account five or more years after the deposit of the fees to identify the purpose to which the fee is to be put and to demonstrate a reasonable relationship between the fee and the purpose for which it was charged. The findings required by this section need only be made for moneys in the possession of the city and need not be made with respect to letters of credit, bonds or other instruments taken to secure payment of the fee at a future date. D. Any refunds shall be made pursuant to Government Code Section 66001. (Ord. 1488 § 1, 1990; Ord. 2192 § 2, 2019) § 17.40.090. Use of affordable housing fund. A. Any moneys monies generated by this chapter shall be used in accordance with and in support of activities to administer and implement the city's adopted housing element and other policies and programs specifically related to affordable housing as may be approved or authorized by the city council. Activities may include, but are not limited to, land acquisition, construction, rehabilitation, subsidization, and counseling or assistance to other governmental entities, private organizations, or individuals to expand housing opportunities to lower-income households. B. Moneys Monies in the affordable housing fund may be disbursed, hypothecated, collateralized, or otherwise employed for the purposes set forth herein. These purposes include, but are not limited to, assistance to housing development corporations, equity participation loans, grants, development loan funds, participation leases, loans to develop affordable housing or other public/private partnership arrangements. The affordable housing fund may be used for the benefit of both rental or owner-occupied housing. C. When the city uses affordable housing fund monieseys to construct or assist in the construction of lower-income units, the city may establish the rules which will apply to Page 53 of 658