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D. Preservation of Assisted Housina <br /> <br />Government Code Section 65583(a)(8) requires all cities and counties to conduct an analysis and <br />undertake programs for preserving existing assisted rental housing developments that are eligible <br />to change to non-low-income housing during the next ten years due to the termination of subsidy <br />contracts, mortgage prepayment, or expiration of use restrictions. The purpose of this section <br />is to update the City's detailed analysis pursuant to this requirement. <br /> <br />The analysis contents is divided into the following sections: <br /> <br /> 1. Inventory and Analysis of Units at Risk of Losing Use Restrictions <br /> <br /> 2. Cost Analysis of Producing New Units Versus Preserving Existing At-Risk Units <br /> <br /> 3. Public and Private Non-profit Organizations Capable of Acquiring and Managing <br /> At-Risk Projects <br /> <br /> 4. Potential Preservation Funding Sources <br /> <br />A minimum ten-year time frame consisting of two five-year intervals is required for the analysis. <br />July 1, 1990 is used at the starting date for the analysis since this was the date of the last <br />Housing Element update required by the State. In the future, when the Housing Element is <br />updated pursuant to the State statutory five-year increment, the analysis and programs should <br />also be adjusted to reflect the ensuing ten-year period. <br /> <br />1. Inventory and Analysis of Units at Risk of Losing Use Restrictions <br /> <br /> Inventory Description <br /> <br /> An inventory matrix of projects containing at-risk assisted units is presented on the <br /> following page. Projects are ordered starting with the date of the earliest potential <br /> termination of use restrictions to the latest. <br /> <br /> The inventory includes all multi-family rental-housing projects that either have been or <br /> are now receiving governmental assistance and are eligible to change to non-low-income <br /> housing due to termination of subsidy contracts, mortgage prepayment, or expiring use <br /> restrictions; and which are currently assisted under any of the following programs: <br /> <br /> · State or local multi-family housing revenue bond programs; <br /> · Federal Community Development Block Grant Program; <br /> · Local in-lieu affordable-housing fee program; <br /> · Other local housing program; and/or <br /> · Density bonus or direct government assistance programs. <br /> <br /> Since the City does not have a redevelopment agency, tax increment f'mancing is not a <br /> potential source for housing which might otherwise be available. <br /> <br /> 14 <br /> <br /> <br />