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6.A. - Page 8 <br /> maximum extent possible. They noted for each unit produced within market rate <br /> development, it "saves" over $250,000 in local, state and federal subsidies. <br /> Consider Local Measure to Raise Funds for Affordable Housing: The <br /> Committee recommends that the City Council consider opportunities for tax or <br /> bond funding for affordable housing in the future. <br /> Next Steps <br /> Based on Council direction, staff will continue work and bring items such as the short- <br /> term vacation rental tax collection agreement and sale and/or development of City <br /> owned properties forward to the Council for consideration. <br /> ALTERNATIVES <br /> The Council may direct staff to add, remove or revise items to the City's affordable <br /> housing strategy <br /> FISCAL IMPACT <br /> There is no direct fiscal impact of this report, other than staff time spent related to <br /> research and preparation. The cost of affordable items and funding sources are detailed <br /> within this report. <br /> ENVIRONMENTAL REVIEW <br /> This action is not a project as defined by the California Environmental Quality Act. <br /> AARON AKNIN <br /> ASSISTANT CITY MANAGER AND COMMUNITY DEVELOPMENT DIRECTOR <br /> n/lAL. okkeolifelAin, l <br /> MELISSA STEVENSON DIAZ <br /> CITY MANAGER <br /> ATTACHMENTS <br /> 1. RESOLUTION <br /> Page 18 <br />