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Rental units in Pleasanton seem to fall well within the above <br />noted ranges even with the trend of rising rents. It might be <br />safe to say that rental housing in Pleasanton is generally and <br />will remain the only "affordable" housing for moderate income <br />households. <br /> <br />Methods of Providing Moderate Income Housing <br /> <br />There are several ways through which cities have attempted to <br />facilitate the construction of "affordable" housing without <br />direct subsidies. The issuance of revenue bonds, inclusionary <br />zoning, and various zoning incentives have proven effective to <br />varying degrees in promoting "affordable" housing for moderate <br /> <br />income households. The purpose of this section is <br />these programs and examine how they have worked in <br />other communities. <br /> <br />to describe <br />certain <br /> <br />Issuance of Revenue Bonds <br /> <br />The State of California has given cities the authority to issue <br />revenue bonds in order to facilitate long-term, low-interest <br />loans for single-family units. A city sells the bonds and then <br />directly or indirectly makes long-term, low-interest loans to <br />households which have difficulty in securing financing through <br />private lending institutions. The city may enter into contract <br />with lending institutions for the origination and servicing of <br />loans. A household which is eligible for the program may not <br />earn more than 120% of the area wide median income if that <br />household is the first occupant of the dwelling unit. If it <br />is not the first occupant, the household cannot earn more than <br /> <br />-89- <br /> <br /> <br />