3D Public Hearing 2012 0416 - Laserfiche WebLink

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California Legislature adopted, the Governor signed, and the California Supreme Court upheld. The City has opted to become the Agency's "Successor Agency" and to assume the responsibilities, rights, and powers of the successor agency pursuant to Health and Safety Code Section 34177 and other applicable law. The City has also assumed all the rights, powers, assets, duties, and obligations associated with the housing activities of the Agency pursuant to Health and Safety Code Section 34176. The passage of ABlx 26 has severely impaired the City's ability to finance affordable housing activities with the substantial loss of Redevelopment Housing Set -Aside funds. City General Funds Due to the City's current structural deficit, the City does not anticipate using General Funds to fund social service providers for San Leandro residents in FY 2012 -2013. City Affordable Housing Trust Fund The City Affordable Housing Trust Fund includes in -lieu fees from the City's Inclusionary Zoning Ordinance from for -sale projects consisting of two (2) to six (6) total units. After allocating the bulk of its Trust Fund ($65,000) to assist the non - profit affordable housing developer Eden Housing to acquire and rehabilitate Surf Apartments; thus, preserving the affordability restrictions of the 46 -unit affordable rental housing property, about $1,486 remains in the City's Trust Fund. PRIVATE Inclusionary Zoning Ordinance The City adopted a Citywide Inclusionary Zoning (IZ) Ordinance in December 2004 that requires developers of new rental or ownership housing to set aside at least 15 % of their project units for low- to moderate - income households. Because of the City's limited affordable housing funding resources, the IZ Ordinance enables the City to have private developers help it meet its affordable housing needs. LEVERAGING PLAN For all housing and community development activities, San Leandro will support applications by other entities to all public and private sources of financing that will improve the activities outlined in the Five -Year Strategic Plan. Federal funds will be leveraged with City local funds. MATCHING PLAN Matching requirements of federal programs, such as HOME, will be satisfied with non - federal sources. The HOME Program requires a 25 percent (25 %) match to HOME - assisted projects. Eligible sources of match include the value of waived fees, value of donated land, and cash from non - federal, local funding source. PUBLICLY -OWNED LAND The City may consider purchasing other land, which would be "banked" for a housing project in the near future. Final Action Plan — FY 2012 -2013 City ofSan Leandro Page 7