CITY COUNCIL REGULAR MEETING AGENDA PACKET

Ordinance No. 2287 Page 6 of 21 A. Any 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. 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 monies 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 and the general plan that such units be made available on a priority basis to Pleasanton residents and workers. D. The city council may use affordable housing fund monies for moderate-income housing as determined necessary and desirable to meet general plan goals and policies. (Ord. 1488 § 1, 1990; Ord. 2192 § 2, 2019) § 17.40.100. Time of payment. Affordable housing fees shall be paid at the time of issuance of a building permit for the residential unit and/or for the commercial, office or industrial development project giving rise to the fee, unless otherwise determined by the city. (Ord. 1488 § 1, 1990; Ord. 2192 § 2, 2019) Page 35 of 126