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The Pleasanton City Council will hold a joint meeting tonight with the city’s Housing Commission to consider adjustments to fees paid by developers into the city’s lower income housing fund.
Currently, the builder of an apartment house complex can pay $2,655 a unit into the fund instead of providing 15-20% of the total number of apartments planned as subsidized affordable units in perpetuity.
Recent California Center, St. Anton, Auf der Maur and Bernal Gateway developments were approved for 1,125 units with 69 of the apartments reserved for very low income households. Current state standards, however, would have called for 716 of those units to be designated for low income tenants.
Developers can choose to pay into the Housing fund instead of designating units in their projects specifically for very low income tenants. The city recently allocated $8 million from that fund to rebuild low income housing at Kottinger Place and Pleasanton Gardens, leaving a balance in the lower income housing fund of $7.9 million.
The meeting will start at 6:30 p.m. in the Pleasanton Civic Center’s City Council chamber, 200 Old Bernal Ave.