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households to wait years to be selected from the HACA Wait Lists. Obiectiyes Increase the number of affordable rental units for extremely low-, very low-, and low-income households through the construction of new housing units, the acquisition and rehabilitation of multifamily properties, and the City's Inclusionary Zoning Ordinance. To meet this objective, the City will leverage funding from HOME, CDBG, Redevelopment Housing Set-Aside, federal and state Low Income Housing Tax Credits, tax-exempt bonds, and any other available public or private resources. Accomplishments New Construction of Affordable Housing on Opportunity Sites Continue to work with private and non-proft developers to create affordable rental housing on opportunity sites. HOME, CDBG, Redevelopment Housing Set-Aside, Low Income Housing Tax Credits, and other federal and state and private funding will be used. The City proposes to build seventy-five (75) new affordable rental units in the next five (5}years. Inclusionary Zoning Ordinance Requires that developers of new rental and ownership housing City-wide must make at least fifteen percent (15%} of the units affordable to very low-, low-, and moderate-income households. Prior to the adoption of the Inclusionary Zoning (IZ) Ordinance, the City required developers to set-aside fifteen percent (15%) of their new housing units as affordable in the three (3) Redevelopment Proj ect Areas only. Furthermore, the City's Density Bonus Ordinance allows developers an increase in overall unit density if they choose to exceed the 15% minimum affordable housing set-aside requirements. Over the next five (5) years, the City anticipates creating twenty-five (25) affordable rental units through inclusionary zoning. Acquisition and Rehabilitation Program Continue to work with private and non-profit developers to create affordable rental housing on existing building. sites that are not currently used as affordable housing. HOME, CDBG, Redevelopment Housing Set-Aside, CDBG, Low Income Housing Tax Credits, and other federal and state and private funding will be used. An estimated ten (10) acquired and rehabilitated affordable rental units will be produced over the next five (5) years. Geographic Distribution All programs listed above are available to eligible households throughout the City of San Leandro. Priority: Preserve existing affordable rental and ownership housing for households at or below 80% of Area Median Income (AMI) Priority Analysis and Obstacles to Meeting Underserved Needs DRAFT Housing and Community Development Strategic Plan - FY 2010-14 City of San Leandro Page 7