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Subject: Affordable Housing Developer Funding
From: Community and Economic Development Agency
Recommendation: A follow-up report regarding staff recommendations to 1) increase the maximum income levels for the use of Redevelopment Agency Affordable Housing Funds for ownership housing projects to 120% of median income as long as the average income in the project does not exceed 100% of median income; and 2) use approximately $3.2 million in unallocated affordable housing funds to issue a new Notice of Funding Availability (NOFA) for homeownership and rehabilitation of existing affordable rental housing
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