body,date,text,page,path
OaklandRedevelopmentSuccessorAgencyandtheCityCouncil,2016-11-01,"Concurrent Meeting of the Oakland
Meeting Minutes - FINAL
November 1, 2016
Redevelopment Successor Agency
and the City Council
Striking the sentence reading ""ACHIEVEMENT OF THIS GOAL DEPENDS IN PART
ON THE AVAILABILITY OF OTHER FUNDING SOURCES TO SUBSIDIZE HOUSING
AFFORDABLE AT THESE INCOME LEVELS."" And changing the last word of the
last sentence to replace the word""GOAL"" WITH ""REQUIREMENT"".
5.
To section 4.54.240, under the title ""Program details"" under the subtitles
""Acquisition, Rehabilitation, and Preservation Program"", ""Length of
Affordability"", adding a second sentence to read:
""The City may require that participating owners grant the City a first right of
refusal to purchase the property if the property is sold during the affordability
period.
6.
To section 4.54.240, under the title ""Program details"" under the subtitles
""Acquisition, Rehabilitation, and Preservation Program"", ""Income Target"",
modify the third sentence, and add language thereafter to read: ""Rents will be
adjusted to be affordable to households at or below 60 percent of AMI until an
average of 80 percent of AMI for the project is achieved. The City will establish a
scoring mechanism in the application process that requires applicants to meet a
certain threshold point level to qualify for funding. That point system will include
significant weight for providing a viable plan for targeting extremely low income
households with a reasonable period of time.""
7.
To section 4.54.240, under the title ""Program details"" under the subtitles
""Acquisition, Rehabilitation, and Preservation Program"", ""Rental Rehabilitation
Program"", ""Income Target"", modify the paragraph and adding additional
language to read:
""Rents will be adjusted to be affordable to households who are at or below 60
percent of AMI until an average of 80 percent of AMI for the project is achieved.
The City will establish a scoring mechanism in the application process that
requires applicants to meet a certain threshold point level to qualify for funding.
That point system will include significant weight for providing a viable plan for
targeting extremely low income households within a reasonable period of time.""
This Ordinance be Approved As Amended On Introduction and Scheduled for
Final Passage.to go before the * Special Meeting of the Oakland City Council to
be heard 11/14/2016
Aye: 7 - - Campbell Washington, Gallo, Guillén, Kalb, Kaplan, Reid, and Gibson McElhaney
No: 1 - - Brooks
City of Oakland
Page 19
Printed on 12/28/2016",19,OaklandRedevelopmentSuccessorAgencyandtheCityCouncil/2016-11-01.pdf