City of South Lake TahoeHousing Element UpdateDeemed Compliant by HCD 12-2003

Summary for LAFCOSeptember 28, 2005

Status of Meeting the City’s Share of SACOG’s Regional Housing Needs

New Construction Rehabilitation Total to Date

Objective Objective

Very low-Income 28 -- 18Low-Income 36 40 92Moderate-Income 30 10 0Above-Moderate 204 -- 205

Housing RehabilitationProgram

Housing RehabilitationProgram

June 2001 – June 2002 8 Units (all SFD’s)June 2002 - June 2003 5 Units (all SFD’s)June 2003 – June 2004 3 Units (all SFD’s)June 2004 – June 2005 2 Units (1 SFD, 1 mobilehome)

Cost and complexity of rehabilitation projects is increasing; the grant money is not funding as many projects as in the past!

Existing Proposed

Floor Plans

Housing Rehabilitation

First-Time Homebuyer Program

FTHB General Guidelines

Low Income - 80% of Median Income

1-Person $35,9002-Person $41,0003-Person $46,1504-Person $51,3005-Person $55,4006-Person $59,500

FTHB Program

June 2001 – June 2002 11 UnitsJune 2002 - June 2003 6 Units June 2003 – June 2004 6 UnitsJune 2004 – June 2005 1 Unit (purchased for $231,000)

Maximum Loan Amount - $150,000 2% Deferred Loan for 45 Years

2005 Maximum Purchase Price - $375,000 House Payments 30-37% of Gross Income Assumable Loan if Sold to another FTHB

Affordable Rental HousingNew Construction and Rehabilitation Projects

New Rental Project Approvals

June 2001 – June 2002NoneJune 2002 - June 2003 18 Units (Sky Forest Acres (formerly Emerald Bay Estates), 14 one-bedroom and 4 two-bedroom units for people with disabilities, all Very Low Income)June 2003 – June 200426 Units (Evergreen Apartments, 24 two-bedroom and two three-bedroom units and Marjorie Street, a one bedroom unit – all low-income)June 2004 – June 200519 Units (Sierra Recovery Center Motel Conversion to deed restricted Affordable Housing; 7 multi-person style units [x 2.5 persons per unit], plus Manager’s Quarters)

Previously Completed Projects Tahoe Pines Apts.

28 units for families Tahoe Valley

Townhomes 70 units for families

Tahoe Senior Plaza 45 units for seniors

Bijou Woods Apts. 92 units for families

Monitoring Requirements After units are deed restricted, they are

annually monitored: On-site Inspection of Interior and Exterior Compliance with Rent and Income Limits Review of Lease Terms Affirmative Marketing

Other Proposed Projects New Senior Housing Project on Herbert and

Pioneer – funding requested, Design Review application not yet submitted

Sierra Garden Apartments: Rehabilitation of 76 units for individuals and small families (approved)

Other Recent Actions Condominiumization of Existing Residential Development.

Amendment to Section 32-20 of the South Lake Tahoe City Code adopted October 19, 2004. Ordinance No. 945. Provided new opportunities to create ownership deed restricted housing units.

Motel Conversion to Deed Restricted Affordable Housing and Bonus Unit Substitution Standards. Amendment to Section 32-33 of the South Lake Tahoe City Code adopted November 16, 2004. Ordinance No. 949. Developed the standards for deed restricted affordable housing units resulting from motel conversions and through bonus unit substitution.

Multiple Family Dwelling Inspection and Maintenance Program. Enactment of Chapter 14A of the South Lake Tahoe City Code adopted November 16, 2004. Ordinance No. 948. Created the multifamily inspection program and funding mechanism for the same.

Moderate-Income Housing No Moderate-Income units created to date Council approved a moderate-income

housing program on July 5, 2005 Expectation is that the private sector will

create these units

What about annexation?

Program 7: Assess the desirability and feasibility of annexation if needed to provide additional lands with capability to accommodate housing needs/demands.

Responsible Party: City Senior StaffFunding: Staff timeTimeframe: Long-termExpected Outcome: If needed, additional sites

for housing development.