3A Public Hearing 2010 0405 - Laserfiche WebLink

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urban Habitat for that portion of a unit (for example, amarket-rate 9 unit project only has to provide 1 inclusionary unit and pay no fee even though 15% of 9 units equals 1.35). 6. Ensuring Depth of Affordability: We commend the City for its support of funding and programming for extremely low-income housing, including the: • allocation of the City housing budget on households earning less than 30% of AMI • assistance of at least 300 extremely low-income families through homelessness prevention and rapid re-housing services • assistance of 15 extremely low-income households through affordable housing conservation and rehabilitation • support for new construction of extremely low-income rental/for-sale housing to meet Regional Housing Needs Assessment requirements. • allocation of at least half (76 units) of the 152 very low income units to be occupied by extremely low income households. We realize that extremely low-income residents are the most likely to be displaced during a time of crisis and commend the City for protecting this sector of the community. 7. Raising Funds for Affordable Housing We recognize that lack of funding is one of the greatest single barriers to affordable housing construction. Thus, we commend the city for considering adjusting upward the condo conversion fee under Policy/Action #56.09-A. It suggests "increasing the condo conversion fee, and basing the fee on sales price rather than using a flat fee. " This is excellent. Not only will this raise more revenue for the Housing Trust Fund, it will also serve as a stronger deterrent to condo conversions, which have contributed to a loss of relatively scarce multi- family housing in the city. We think the city should also raise additional funds for affordable housing by increasing the Redevelopment Tax Increment Financing Housing Set Aside from 20% to 25% and suggest that this be considered as part of your implementation plan. Recognizing that the City has committed much of its near term Redevelopment funds, we suggest that the city slowly increase the Housing Set Aside portion from 20 to 25% over a period of five years, 1% at a time starting in five years or the earliest year that funds haven't been fully committed. 436 i4"' Street. Suite i2o5, Oakland, CA 94612 (5io) 839-95io • Fax: (5io) 839-g6io www.urbanhabitat.org