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 ...
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