Title
Adopt a Resolution to Approve the FY 2025 Affordable Housing Trust Fund Report
Staffreport
COUNCIL PRIORITY
• Housing and Homelessness
SUMMARY
The City of San Leandro’s (City) Inclusionary Housing Ordinance (Ordinance) requires the Community Development Director to provide an Annual Report (Exhibit A1) on the Affordable Housing Trust Fund (AHTF) to the City Council. The AHTF Report includes a status of activities undertaken with AHTF resources as provided by Section 66006(b) of the California Government Code.
RECOMMENDATIONS
Staff recommend that the City Council adopt a resolution to approve and accept the FY 2025 AHTF Report.
BACKGROUND
The City established the AHTF Fund in December 2004. The AHTF receives all fees contributed under Municipal Code Section 6.04.124 In-Lieu Fees, as required in Section 66606(a) of the California Government Code. The AHTF may also receive monies from other sources, such as condominium conversion fees. Revenue deposited in the AHTF Fund must be used to increase and improve the supply of housing affordable to moderate-, low-, and very low-income households in the City. Funds may also be used to cover reasonable administrative or related expenses associated with the administration of the Inclusionary Housing Ordinance.
Funds must be used in accordance with the City’s Housing Element and U.S. Department of Housing and Urban Development (HUD) Consolidated Plan adopted by the City Council to construct or convert to affordable housing, address homelessness and/or assist other governmental entities, private organizations, or individuals to do so. Permissible uses include, but are not limited to, assistance to housing development corporations, affordable housing loans and grants, pre-development loan funds, public-private partnership arrangements, and administration of the City’s housing monitoring program. The AHTF may be used for the benefit of both rental and owner-occupied housing.
Analysis
The Annual Report includes a statement of income, expenses, disbursements, and other uses of the AHTF, as well as the number and type of inclusionary units constructed or assisted during that year and the amount of such assistance provided, if any. The FY 2025 AHTF Report also includes an updated FY 2024 AHTF ending balance of $311,483.90, reflecting corrections identified through the City’s annual financial audit.
Over the last three fiscal years, AHTF expenditures primarily supported the pre-development and acquisition costs of the former Nimitz Motel for conversion into the Lewelling Interim Housing Shelter and Drop In Center. The project was completed in FY 2025.
Financial Impacts
According to unaudited financial reports generated in November 2025, the FY 2025 AHTF fund balance as of June 30, 2025, was $336,165.61. The AHTF received revenue from interest income.
This Council action will not impact fund balance.
ATTACHMENTS
A: Resolution to Approve and Accept the FY 2025 Affordable Housing
Trust Fund Report
B: FY 2025 Affordable Housing Trust Fund Report
PREPARED BY: Grace Streltzov, Senior Housing Specialist, Community Development Department