3B Public Hearing 2010 0419 - Laserfiche WebLink

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Mobile Home Grant Program ^ The Mobile Home Grant Program provides grants from Redevelopment Housing Set-Aside funding for rehabilitation or seismic retrofitting of owner-occupied mobile home units. The maximum grant is $5,000. The program will assist approximately twenty-five (25) mobile home units occupied by very low income owners over the next five (5) years. Apartment Rehabilitation Program ^ The Apartment Rehabilitation Program preserves affordable rental units using Redevelopment Housing Set-Aside funds. The Redevelopment Agency of San Leandro may provide on a case-by-case basis low-interest loans to property owners to rehabilitate their rental properties, and in return the owners maintain a percentage of their rental units as affordable units for fifty-five (55) years. It is estimated that approximately ten (10) rental units will be created over the next five (5) years. Support Maintenance of Existing Section S Assistance Certificates and Vouchers ^ Continue to support the Housing Authority of Alameda County (HACA) maintain its existing level of Section 8 housing vouchers in San Leandro (1,331 as of February 10). The program provides assistance to very low-income tenants through rent subsidies which are paid directly to the landlords. Geographic Distribution All programs listed are available to eligible households throughout the City of San Leandro. Priority: Assist low- and moderate-income first time homebuyers Priority Analysis and Obstacles to Meeting Underserved Needs The Alameda County HOME Consortium prepared in part the following analysis of first time homebuyer needs and obstacles. As a Consortium member, the City of San Leandro subscribes to this priority and has proposed activities that meet the objective of assisting low- and moderate- income first time homebuyers. The Alameda County HOME Consortium Housing Needs Analysis documents that thirty-eight percent (38%) of all owner households in the Consortium spend over 30% of their incomes on housing costs, according to the 2000 Census. While the median home prices within the Consortium area has decreased nineteen percent (19%) from $505,038 in 2004 to $410,146 in 2009, the gap between median incomes and median home prices still remain sizable because Bay Area household incomes still have not kept pace with housing costs despite the eight percent (8%) increase in the median household income from $82,200 in 2004 to $89,300 in 2009. Consequently, with households currently needing an income of at least $82,590 to afford the median-priced home only sixteen percent (16%) of low income Alameda County residents can afford to become homeowners, according to the California Association of Realtors Housing and Community Development Strategic Plan - FY 2010-2014 City of San Leandro Page 10