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City of San Leandro's Efforts to Affirmatively Further Fair Housing in the Jurisdiction <br />Action 7.3: Explore innovative sources of <br />local funds to support affordable housing <br />development. <br />Fair Housing Matrix -pig 18 <br />HOME Consortium jurisdictions should <br />continue to explore alternative sources of <br />local affordable housing funds to partially <br />or fully substitute for the loss of <br />Redevelopment funds for affordable <br />housing followingthe dissolution of <br />Redevelopment Agencies in California in <br />2011. Examples of such alternative sources <br />include the rededication of so-called <br />"boomerang funds" relinquished by the <br />State following the Redevelopment Agency <br />dissolution process to affordable housing <br />production; the combination of one or <br />more existing funding streams into an <br />Affordable Housing Trust Fund; or the <br />issuance of tax-exempt bonds to support <br />affordable housing production. In <br />particular, Consortium jurisdictions should <br />review the provisions of 513 628 that was <br />signed into law in October 2Q14; SB 628 <br />provides for a new tax -increment financing <br />option for California jurisdictions in the <br />form of an enhanced Infrastructure Finance <br />District (IFD)_ Enhanced IFD5 may be used <br />by local jurisdictions for the financing of <br />specific infrastructure improvements or <br />other specific projects of communitywide <br />significance. <br />In the fall of 2016 Alameda County <br />Measure A-1 was approved by voters and <br />authorizes $580 million in general <br />obligation bonds to invest in regional <br />efforts to address the lack of affordable <br />housing. The City of San Leandro has a <br />base allocation of these funds in the <br />amount of almost $13 million. In FY 2017- <br />18 City of San Leandro staff approved the <br />allocation by Alameda County $4 million <br />of these funds to support the <br />development of Parrott Street <br />Apartments by Eden Housing. <br />Measure A-1 funds are designated for <br />affordable rental housing development <br />with the goal of creating and preserving <br />affordable housing. Additionally, there <br />will be a county -wide competitive pool for <br />affordable housing development, first- <br />time homebuyer down payment <br />assistance, ownership housing <br />development, housing preservation to <br />assist senior citizens, people with <br />disabilities, and other low-income home <br />owners to remain safely in their homes. <br />City of San Leandro FY 2017-18 CAPER <br />OMB Control No: 2506-0117 (exp. 06/30/2018) <br />42 <br />