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POLICIES AND ACTIONS <br />PROGRESS <br />Policy 55.01 COMMUNITY STABILITY THROUGH <br />HOME OWNERSHIP <br />Enhance community stability by promoting home <br />ownership and creating opportunities for first- <br />time buyers in the City. <br />The Housing Division conducts up <br />to four First-Time Homebuyer <br />workshops annually to inform the <br />community about available <br />resources that will lead to home <br />ownership. <br />Planning Services Division routinely <br />talks about housing type and tenure <br />with prospective developers. Most <br />housing developments have been <br />ownership projects which continue <br />to provide ownership opportunities <br />in San Leandro. <br />Policy 55.02 HOME OWNERSHIP FOR SAN LEANDRO <br />RENTERS <br />Expand programs which help San Leandro <br />renters purchase homes in the community. These <br />programs should focus on moderate income <br />households (80-120% of area-wide median <br />income) but should also provide home purchase <br />opportunities for low and very low income <br />households. <br />Action 55.02 - A: San Leandro <br />continues its first time homebuyer <br />assistance program and relies on the <br />ABAG-funded California Home <br />Source Program (funded through <br />ABAG) for possible lease-purchase <br />opportunities. Since 1999, a total of <br />691oans have been made, 30 for <br />market-rate homes, and 39 for <br />affordable units. In addition, the <br />City has increased the maximum <br />loan amount to $20,000. <br />Action 55.02 - B: San Leandro <br />maintains resources to provide <br />assistance to 5 homeowners through <br />the County's Mortgage Credit <br />Certificate program. <br />Action 55.02 A: First-Time Homebuyer Program <br />Continue the City's first time homebuyer assistance program, offering low-interest <br />deferred payment loans to qual wing low and moderate income households for down <br />payment assistance or gap financing. <br />Make the following changes to the program to improve its effectiveness: <br />• Increase the maximum loan amount from the current level of $1 D, 000 per applicant. <br />• Index the maximum loan amount to the cost of housing, so that it rises as housing <br />inflation occurs. <br />Year 2004 Annual Housing Progress Report 26 City Of San Leandro <br />