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HOUSING FOR LOW AND MODERATE INCOME RESIDENTS <br />Introduction <br />Housing San Leandro's low- and moderate-income residents is one of the Agency's tap <br />priorities. The Agency's goal is to: <br />L'se no less than 20% of all its tax increment revenue for increasing, improving, and <br />preserving the community's supply of housing available and affordable to households with <br />very low, low, or moderate incomes. <br />The Agency is required by California law to "set aside" 20% of all tax increment collected in the <br />redevelopment project areas to be used for the purpose of increasing, improving and preserving <br />the community's supply of housing available and affordable to households with low and <br />moderate incomes. The Low Mod Housing Fund (LMHF) contains the totals of 20% of tax <br />increment from all three project areas. The Agency has made appropriate findings to use these <br />funds throughout the City. The LMHF is administered as one fund, and its programs and <br />policies governing the expenditures are that of the Agency as a whole, rather than that of each <br />project area. This funding is sometimes referred to as the Set-Aside Fund. <br />Table 8 shows that the Agency projected over $5.5 million in LMHF in 2004. Table 8a indicates <br />the Agency is currently projected to receive a higher amount in LMHF, over $11.1 million, due <br />to increased property tax revenue in the redevelopment project areas. <br />Table 8. Housin Set-Aside Pro'ections - 2004 Ad'usted* Estimates <br />Fiscal Year Housing Set-Aside <br />Funds (Tax Increment) <br />2004-05 1,000,000 <br />2005-06 1,030,000 <br />2006-07 1,125,000 <br />2007-08 1,165,000 <br />2008-09 1,205,000 <br />Five Year Total 5,525,000 <br />Source: San Leandro Redevelopment Agency; Urban Anaiyrtcs. <br />* County portion of housing set-aside removed from 2004 projections. <br />Tn},ln Q~ Anneina Cvf-Aci(lP p-'n1P.Ct1(1T1C - 2nn7 Undate <br /> <br />Fiscal Year Housing Set-Aside <br />Funds (Tax Increment) <br />2004-OS 1,737,912 <br />2005-06 1,960,825 <br />2006-07 2,366,940 <br />200?-08 2, 416, 595 <br />2008-09 2, 568, 656 <br />Five Year Total 11,050,928 <br />Source: San Leandro Redevelopment Agency; Urban Anatyttcs. <br />Note: For Mid[erm Review, FY 03!04-06/07 reflects actual figures, while FY 07/08-08/09 are projected figures. <br />Mid-Term Review Page 1 S <br />