Title
Adopt a Resolution to Approve the FY 2023-2024 Affordable Housing Trust Fund Report
Staffreport
COUNCIL PRIORITY
• Housing and Homelessness
SUMMARY
The City of San Leandro’s (City) Affordable Housing Trust Fund (AHTF) Ordinance
requires the Community Development Director to provide an Annual Report (Exhibit A1) 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.
RECOMMENDATION
Staff recommends that the City Council adopt a resolution to approve and accept the FY 2023-2024 AHTF Report.
BACKGROUND
The City established the AHTF 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 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 this chapter.
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. In FY 2023-2024, AHTF expenditures supported the acquisition and development of the former Nimitz Motel into the Lewelling Interim Housing Shelter and Drop In Center.
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.
FINANCIAL IMPACTS
At the end of FY 2023-2024, the AHTF fund balance was $620,983.90. The AHTF received revenue from interest income. There are no financial impacts associated with this action.
ATTACHMENTS
Attachment A: Resolution to Approve and Accept the FY 2023-2024 Affordable Housing Trust Fund Report
o Ex A1: FY 2023-2024 Affordable Housing Trust Fund Report
PREPARED BY: Grace Streltzov, Senior Housing Specialist, Community Development Department
REVIEWED BY: Kerri Heusler, Housing Manager, Community Development Department