AgdaPkt 2000-05-08 - Laserfiche WebLink

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8A-Iq 5 YEAR STRATEGY PRIORITIES AND PERFORMANCE MEASUREMENTS The primary funding sources cited in this Consolidated Plan Strategy targets assistance to households earning 80% or less of the median. Pursuant to the Anti-Poverty Strategy description in this report, funding recommendation criteria will attèmpt to fund programs that provide assistance to those with the greatest need. The Housing Needs Assessment cited the greatest need as very low and extremely low-income households. This strategy, therefore, seeks to provide the broadest range of assistance to the lowest income and special needs population, including elderly. PRIORITY # 1 Promote affordable housing for all populations by increasing the number of affordable, accessible, decent safe & sanitary, and ownership units for low and moderate-income households Private developers are unlikely to produce affordable housing units specifically for low and very low-income households without some financial incentive from the City. The City and Agency can promote additional opportunities by acquiring existing multi-family units for rehabilitation and fixing low rents for the life of the agreement, or by purchasing and donating land as subsidy to facilitate affordable housing development. This priority targets federal funds to permanent housing to meet the need for lower income groups. According to the ABAG Needs Projections, Redwood City needs to produce 1889 housing units. Approximately 594 or 31% of these units are needed for low and very low-income households. Of this number, 397 or 67% need to be provided to very low- income households. The lack of decent safe and sanitary affordable housing is evidenced by visible homeless populations, homeless families and individuals including a growing number of senior citizens, emergency shelter and transitional housing programs, and substandard rental housing where code enforcement efforts are necessary. The 1990 Census also indicates the extent to which a disproportionate number of low income and minority households are living in overcrowded and substandard housing. In order for the City to realize its mission to provide suitable housing opportunities for all residents and to improve the quality of life, direct actions must be taken by the City to increase the supply of affordable housing. The greatest obstacle to meeting this priority is availability of land, access to financing, and neighborhood opposition. The City's ability to acquire buildings and land and facilitate the development of new affordable housing will be limited pending availability of financing, housing policies and zoning requirements conducive to the development of affordable housing for low and very low income households. Construction of additional affordable housing units will be the primary activity of the City. Redwood City will allocate approximately 40% of CDBG funds, 100% of HOME funds, and revolving loan program funds in conjunction with Redevelopment Housing Funds to carry out the housing activities in the following rank order: B-2 - ...... .-y-..-.