RES 96088 - Laserfiche WebLink

The City has used the Housing Fund for numerous purposes. For example, it has been used to reimburse the General Fund for fee waivers granted to affordable housing projects, such as The Promenade Apartments and Stanley Senior Apartments. In the case of The Promenade project, the Fund will also be used to provide a bridge loan during construction. The Housing Fund was also the source of second mortgages for several of the affordable homes sold in the Rotary Commons and Palomino Place developments. During the past three years, the Fund has been used to supplement the City's Federal Community Development Block Grant (CDBG) program to allow funding of projects which have a housing component and which benefit low-income persons. The Lower-Income Housing Fee has been the primary source of revenue for affordable housing projects in Pleasanton for nearly 20 years. Without this fee, many very fine lower-income projects would not have been possible. This fee is considered by the City to be essential and not a constraint to housing. 8. Other Fees and Exactions The City (and others) assess a number of fees that affect the development and cost of housing in Pleasanton. Water, sewer, and permit fees are similar to those charged in other cities. In addition, an in-lieu affordable housing fee ($651 per multi-family unit and $1,954 per single-family unit) and in-lieu park dedication fee ($2,919 per multi-family unit and $4,009 per single-family unit) are collected by the City. An itemization of all other related fees for single-family homes is presented on the attached Exhibit 1. The School District collects a school impact fee to provide for temporary and permanent facilities in high-growth areas. The fee is $4.17 per square foot of residential floor area. City development fees are not a constraint to the construction of housing affordable to senior citizens or to lower-income households. City ordinances permit waiver of fees for lower-income and senior housing projects. Also, lower-income housing fees that are charged to new market-rate developments can be used to help off-set the fees that otherwise would be charged to units affordable to lower-income households. 9. On- and Off-Site Improvement.q Pleasanton, like most cities in California, requires residential developers to provide a full complement of on- and off-site improvements, e.g., streets, curbs, gutters, sidewalks, street trees, drainage, water, sewer, power and communications utilities, and traffic mitigations. These requirements are comparable to provisions in neighboring cities. The City has created a housing fund to assist low- and very-low-income projects to provide on- and off-site improvements. For a detailed outline of the City's PUD zoning process and tentative subdivision map process, please refer to Exhibit 3 and 4. 12