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LOCAL <br />Redevelopment Housing Set-Aside Funds <br />State Redevelopment law requires redevelopment agencies to set aside 20% of their tax <br />increment revenue to provide affordable housing for low to moderate income households. The <br />City will use the Redevelopment Housing Set-Aside funds from its three Redevelopment Project <br />Areas to finance several affordable housing activities in line with the City's Housing Element <br />and Housing Strategy: single family rehabilitation, multifamily rehabilitation, first time <br />homebuyer loans, and new affordable housing construction. Matching requirements of the <br />HOME Program must be satisfied with non-federal dollars. The City will also utilize <br />Redevelopment Housing Set-Aside funds to meet the match required when using HOME funds <br />for an affordable housing project. <br />City General Funds <br />The City anticipates funding social service providers for San Leandro residents through a <br />combination of General Funds and CDBG funds. The City also plans to use a small amount of <br />General Funds to fund the Rent Review Program, which was created through a City ordinance to <br />assist landlords and tenants in mediating rent increases. <br />PRIVATE <br />Inclusionary Zoning_Ordinance <br />The City adopted a Citywide Inclusionary Zoning (IZ) Ordinance in December 2004 that requires <br />developers of new rental or ownership housing to set-aside at least 15 % of their project units for <br />low to moderate income households. Because of the City's limited affordable housing funding <br />resources, the IZ Ordinance enables the City to have private developers help it meet its affordable <br />housing needs. <br />Community Reinvestment Act (CRA) <br />Local lenders, under the Community Reinvestment Act (CRA), participate with the City in <br />providing homebuyer counseling services and loans to first time homebuyers. <br />LEVERAGING PLAN <br />For all housing and community development activities, San Leandro will support applications by <br />other entities to all public and private sources of financing that will improve the activities <br />outlined in the Five Year Strategic Plan. Federal funds will be leveraged with local funds, <br />including those from the Redevelopment Agency Housing Set-Aside. <br />Action Plan - FY2005-06 <br />City of San Leandro <br />Puge 4 <br />