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CITY OF SAN LEANDRO <br />FY 2013-2014 <br />ANNUAL AFFORDABLE HOUSING TRUST FUND REPORT <br /> <br />In December 2004, the City of San Leandro amended the Zoning Code by adopting Article 30, <br />the Inclusionary Zoning Ordinance (“Ordinance”). The purpose of the Ordinance is to encourage <br />the development and availability of housing affordable to a broad range of households with <br />varying income levels within the City, to increase the supply of affordable ownership and rental <br />housing in San Leandro, and to require that residential developers construct affordable housing <br />units within their projects. <br /> <br />For ownership residential developments with two to six total units, the requirements of the <br />Ordinance may be satisfied alternatively by having developers pay an in-lieu fee to the City’s <br />Affordable Housing Trust Fund (“Fund”). The Fund is an account established to collect and <br />expend such in-lieu fees for the purpose of furthering affordable housing as described in the <br />Ordinance. The Fund also includes revenue from condominium conversion fees and repayment <br />of Fund loans. <br /> <br />Monies deposited in the Fund target the increase and improvement of the supply of housing <br />affordable to moderate-, low-, and very low-income households in the City. Monies may also be <br />used to cover reasonable administrative or related expenses associated with the administration of <br />this Ordinance. <br /> <br />For FY 2013-2014, the Fund’s revenue balance as of June 30, 2014 was $67,856.76. In FY <br />2013-2014, the Fund received revenue of $34,788.36, which included $425 in accrued interest <br />and a total of $34,363.36 loan principal repayment made by the non-profit Eden Housing on <br />behalf of Estabrook Place, an affordable 51-unit senior rental housing development. There were <br />no expenditures in this fiscal year. <br /> <br />City staff is further assessing the effectiveness of the Inclusionary Zoning Ordinance, including <br />the Fund, as staff is currently in the process of updating the City’s Housing Element and General <br />Plan. Staff will then bring forward recommended amendments to the Ordinance for review by <br />the Planning Commission and City Council once they have been further refined. <br /> <br />Below is a table reflecting the revenue, expenditures, and ending balance from the last six years: <br /> <br /> <br /> BEGINNING BALANCE <br />AS OF JULY 1 <br /> REVENUE FROM <br />CURRENT FISCAL YEAR EXPENDITURES ENDING BALANCE <br />AS OF JUNE 30 <br />FY 08-09 47,505.40$ 13,659.00$ -$ 61,164.40$ <br />FY 09-10 61,164.40$ 4,844.00$ 41.00$ 65,967.40$ <br />FY 10-11 65,967.40$ 519.00$ -$ 66,486.40$ <br />FY 11-12 66,486.40$ 437.00$ -$ 66,923.40$ <br />FY 12-13 66,923.40$ 31,145.00$ 65,000.00$ 33,068.40$ <br />FY 13-14 33,068.40$ 34,788.36$ -$ 67,856.76$ <br />