8C Consent 2011 1003 - Laserfiche WebLink

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S ' R ".�, City of San Leandro ��. Meeting Date: October 3, 2011 R A q�� STAFF REPORT File Number: 11 -202 Agenda Section: Consent Calendar Agenda Number: 8.C. TO: City Council FROM: Lianne Marshall Interim City Manager /Executive Director BY: Luke Sims Community Development Department FINANCE REVIEW: Not applicable TITLE: Staff Report on Annual Affordable Housing Trust Fund Report for FY 2009 -2010 and FY 2010 -2011 RECOMMENDATIONS Staff recommends that the City Council review and approve the City of San Leandro's annual Affordable Housing Trust Fund Report in accordance with the City of San Leandro's Inclusionary Housing Ordinance (Article 30 of the Zoning Code, Section 6- 3028). BACKGROUND In December 2004, the City of San Leandro amended the Zoning Code by adopting Article 30, the Inclusionary Housing Ordinance ( "Ordinance "). The purpose of the Ordinance is to encourage the development and availability of housing affordable to a broad range of households with varying income levels within the City, to increase the supply of affordable ownership and rental housing in San Leandro, and to require that residential developers construct affordable housing units within their projects. For ownership residential developments with two to six total units, the requirements of the Ordinance may be satisfied alternatively by having developers pay an in -lieu fee to the City's Affordable Housing Trust Fund ( "Fund "). The Fund is an account established to collect and expend such in -lieu fees for the purpose of furthering affordable housing as described in the Ordinance. The Fund includes revenue from condominium conversion fees. This Fund is distinct and segregated from the other major source of revenue, the Redevelopment Set Aside Fund, that the City uses to develop affordable housing. Monies deposited in the Fund must be used to increase and improve the supply of housing affordable to moderate -, low -, and very low- income households in the City. Monies may also be used to cover reasonable administrative or related expenses associated with the administration of this Ordinance.