Attachment 6
Affordable Housing Resources and Tools
HOME Investment Partnerships (HOME) Program: The City receives approximately $1.2 million of HOME funds annually fr om the United States Department of Housing & Ur ban Development that can be used to buy existing housing or vacant land for affordable housing; building new housing; rehabilitating existing housing; demolishi ng structures to make wa y for affordable housing; relocation; making site improvements; and paying soft costs, such as engineering plans, attorneys’ fees, title search, and fair housing services.
Permanent Local Housing Allocation (PLHA): PLHA funds are generated through a $75 recording fee on real estate documents to increase the supply of affordable homes in California. The City first PLHA allocation was $1.6 million and the second allocation is $2.5 million. These funds are used to create affordable housing and cover ongoing bridge housing operations.
Assembly Bill (AB) 1486 Surplus Land Act: Promote affordable housing development on unused or underutilized public land throughout the state to respond to the existing affordable housing crisis. Affordable housing developers have the “first right of refusal” or priority consideration for all City-owned land that has been declared surplus. During this period, proposals must include at least 25% of the residential units to be restricted to “affordable rent to lower income households.” If there is no interest from an affordable housing developer or public agency, staff will market the subject properties to sell them at fair market value in accordance with the City’s Administrative Manual 08.003.00, Disposition and Sale of City-Owned Real Property. If the subject properties are developed by a private developer with ten or more residential units, then 15% of the total project’s units must be restricted to “affordable rent to lower income households” as required by AB 1486. The City has received responses to Notice of Availability of Surplus Land from developers that include at least 25% of the residential units will be restricted for affordable housing.