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While Council direction focused on regulatory aspect of affordable housing, there was <br />no related information or discussion regarding funding the construction of these units. <br />Funding is critically important, because as noted above, the primary way to fund <br />affordable housing was lost several years ago. Since the elimination of redevelopment, <br />the affordable housing funding process is more competitive and complicated than ever, <br />and cities must be extremely thoughtful when aligning their regulatory policies with <br />financing options that currently exist related to affordable housing. <br />The study session will be led by Patrick O’Keefe, former City Manager and Community <br />Development Director of the City of Emeryville. <br />ANALYSIS <br /> <br />Attached to this report are two documents related to the production of affordable <br />housing: <br /> <br />· A memo from Patrick O’Keefe outlining the primary ways affordable housing <br />development are currently financed. <br /> <br />· A report from the non-partisan California Legislative Analyst Office titled <br />“Perspectives on Helping Low-Income Californians Afford Housing”. <br /> <br />The information and perspectives outlined in these reports will be discussed in further <br />detail at the study session. <br /> <br />ALTERNATIVES <br /> <br />As this is a study session, various affordable housing funding options will be discussed <br />at the Council meeting. <br /> <br />FISCAL IMPACT <br /> <br />Staff and consultant time was utilized to draft the staff report and research related <br />issues. <br /> <br />ENVIRONMENTAL REVIEW <br /> <br />The study sessions and related report are not a project under CEQA as defined in <br />CEQA Guidelines, Section 15378, as it has no potential for resulting in either a direct or <br />foreseeable physical change in the environment. <br /> <br />8.A - Page 2