SR 05:103 - Laserfiche WebLink

· Promote joint development with other governmental or quasi-governmental agencies to implement community development programs. MATCHING PLAN The matching requirements of HUD programs will be satisfied primarily through the use of City Lower Income Housing Funds, where needed, or through funds provided by non-profit agencies which are the sub-recipients of HUD funds allocated to the City. The matching requirement is included in City application forms for federal funding used for sub-recipients and the requirement is ensured throughout the project review and approval process. PUBLICLY OWNED LAND The 7.4-acre parcel of land on Case Avenue where "The Promenade" apartment project was recently completed was provided by the City through a long-term ground lease. The property had an appraised value of approximately $2.2 million at the time of construction. In 2005, the City will contribute (through a similar ground lease) an additional 3.6-acre site on Sunol Boulevard valued at approximately $3.5 million for the construction of an assisted care facility for seniors. This property is estimated to have a value of over $3 million. In 2004, an agreement was reached in which the City is acquiring 318 acres of land from the 500+ acre Bemal property south of the Alameda County Fairgrounds. These lands are designated for "public uses." A citizens task force has been working for the past year to develop a recommended plan for utilizing the property. A voter initiative approved 581 housing units on the other 200 acres of the Bemal property, including 87 below-market rental and ownership units. The potential for accommodating additional affordable housing was removed through the passage of"Measure V" in November 2002. However, the acquisition of these 318 acres may still provide the City with some limited options to consider additional housing development should future conditions and commtmity needs warrant. DRAFT - Action plan - FY05 City of Pleasanton Page 10