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1996 EVALUATION: This program was proposed to be added by the Tri-Valley Subregional <br />Planning Strategy. <br /> <br /> Policy 19: Reserve suitable sites for subsidized lower-income housing. <br /> <br /> Program 19.1 Acquire, ;FFrcFr~-"-:e:y r.c:;e, and/or assist in the <br /> development of one or more sites for lower-income housing ~: <br /> <br />1996 EVALUATION: Objective met. Continue Program. Since 1991, the City has been <br />involved in several major affordable housing projects. Most directly, the City provided a <br />favorable ground lease and other assistance for the 146-unit "The Promenade" Apartments on <br />Case Avenue, which will include 68 units for low- and very-low-income households. The City <br />also assisted the following project: Palomino Place (four moderate-income ownership units); <br />Sycamore Place (six moderate-income ownership units); Califorma Somerset <br />(26 moderate-income ownership units); Division Street Senior Apartments (17 low- and three <br />very-low-income senior rental units); Stanley Senior Apartments (78 low-and eight <br />very-low-income senior rental units). <br /> <br /> Program 19.2: Issue tax exempt bonds to finance construction of <br /> lower-income housing units, to purchase land for such a use, and <br /> to reduce mortgage rates. <br /> <br /> Responsible Agency: City Council <br /> Time Period: As needed <br /> Funding Source: General Fund <br /> <br /> 24 <br /> <br /> <br />