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Inventory Analysis <br /> <br />An analysis of the projects referenced in the inventory has been undertaken to allow for <br />the identification of actions which the City can take to either preserve the existing units <br />with affordable controls for the longest feasible time or to replace them where possible. <br />Due to the range of potential options that exist for the City, the presence of conversion <br />dates within the ten-year planning period alone does not necessarily mean that the <br />affordability of these projects need automatically terminate. Federal and State regulations <br />affect the feasibility and timing of the termination of low-income use restrictions, and <br />also provide specific opportunities for local government and non-profit organizations to <br />preserve these units. In addition, some projects under non-profit ownership may be <br />technically eligible to convert, but be unlikely to actually do so. The analysis and <br />programs provided in this Report reflect an awareness of these opportunities. <br /> <br />As of July 1, 1995, there were 15 apartment complexes in Pleasanton which provided <br />a total of 839 units for low-income households. Of this total, over 350 were reserved <br />for the elderly and over 450 for other qualifying low-income households. These units <br />are supported by a variety of assistance sources, including: HUD Section 236 funding, <br />CHFA tax exempt bonds, HODAG grants, non-profit organization ownership, the City, <br />and private rental agreements resulting from the Growth Management Program. <br /> <br />Three of these projects were identified as being at risk during 1990-2000 analysis period. <br />These include: <br /> <br /> DEVELOPMENT ASSISTED UNITS YEAR OF EXPIRATION <br /> Pleasanton Greens 13 1 1996 <br /> Stoneridge Apartments 78 1998 <br /> Hacienda Gardens 69 1998 <br /> Total: 278 <br /> <br />Pleasanton Greens contains 131 units assisted by the HUD Section 236 Interest Reduction <br />Payment Program through 1996. Although it is expected that the management of the <br />project will attempt to extend the program, the project has been identified as at-risk in <br />the event that renewal or other preservation attempts are not successful. <br /> <br /> 15 <br /> <br /> <br />