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Las Palmas Apartments -4- February 7, 2011 <br /> Current City Council Policy <br /> Not applicable. <br /> Previous City Council Action <br /> On May 3, 1999, the City Council approved a $750,000 loan from the City of San Leandro <br /> (Resolution No. 1999 -60). The funding source for this loan was the federal Home Investment <br /> Partnership Act (HOME) funds. <br /> On November 17, 2003, the City Council approved Amendment No. 1 to the Regulatory <br /> Agreement (Resolution No. 2003 -230) to modify the affordability period to a 15 -year term. <br /> City Council Committee Review and Action <br /> None. <br /> Applicable General Plan Policy <br /> The Housing Element of the General Plan contains several policies applicable to the transfer of <br /> ownership of Las Palmas from Citizens Housing to Eden Housing: <br /> Goal 54: Administration of Housing Programs — Ensure that local housing programs are <br /> administered in a way that maximizes benefits to San Leandro residents. <br /> Policy 54.04: Long -Term Affordability Restrictions — Ensure that housing units that are <br /> created or rehabilitated with financial assistance from the City (or that are created <br /> through the City's inclusionary housing ordinance) include restrictions to ensure that they <br /> will remain affordable for the maximum length of time allowable under federal, state and <br /> local regulations....Appropriate resale and tenant occupancy requirements (such as deeds <br /> of trust and/or rent limitation agreements) should be established for such units to ensure <br /> that they are reserved for low- and moderate- income households when occupancy <br /> changes. <br /> Goal 56: Affordable Housing Conservation — Encourage the preservation and rehabilitation of <br /> the existing affordable housing stock. <br /> Action 56.05 -B: Monitoring "At- Risk" Units — In addition to the units described above, <br /> monitor the status of other assisted housing units that are at risk of conversion beyond <br /> the timeframe of this Housing Element. <br /> Permits and/or Variances Granted <br /> Not applicable. <br /> Environmental Review <br /> This activity is not a project, pursuant to California Environmental Quality Act (CEQA). As <br /> such, no environmental review is required. <br /> Code Compliance Review <br /> Not appl icable. <br />