Laserfiche WebLink
Redevelopment Tax Increment Funds <br /> <br /> The City of Pleasanton does not have a redevelopment area and, therefore, does not have <br /> a source of redevelopment tax increment funds to finance affordable housing and related <br /> activities. <br /> <br />PRIVATE <br /> <br />Community Reinvestment Act (CRA) <br /> <br /> Local lenders are encouraged by state, county, and local policies to provide favorable <br /> lending terms for projects which involve the provision of affordable rental and ownership <br /> housing. The City has encouraged developers of affordable housing projects to explore <br /> opportunities with local lenders in conjunction with the construction of their projects. In <br /> addition, CRA benefits have bccn a significant incentive in attracting prospective <br /> financial partners for City-sponsored loan programs and the upcoming Tri-Valley <br /> Housing Opportunity Center (TVHOC). <br /> <br />Other <br /> <br /> Local foundations, faith communities, service organizations and private individuals <br /> contribute their support for a variety of homeless assistance and prevention programs, <br /> which serve Pleasanton. <br /> <br />LEVERAGING PLAN <br /> <br />For all housing and community development activities, the City of Pleasanton will support <br />applications by other entities to all public and private sources of financing. In the case of <br />matching requirements for a funding source, the City will use for a match such sources as City <br />Housing Funds, other local agency funds, publicly owned land, and private donations. To <br />maximize leveraging of its own funds and to increase the funds available for housing, the City <br />plans to undertake the following activities: <br /> <br />· Support the purchase and rehabilitation and construction of units by non-profit housing <br /> developers. <br /> <br /> Continue pa~icipation in the Mortgage Credit Certificate (MCC) program operated by the <br /> County of Alameda. <br /> <br /> Continue to provide support to non-profit, community-based housing developers and service <br /> providers. <br /> <br /> DRAI~ - Action Plan - FY0$ <br /> City of Pleasanton <br /> Page 9 <br /> <br /> <br />