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8 <br />9 <br />1011 <br />A B C D <br />1 2 3 4 <br />Name of Program Objective Timeframe in H.E Status of Program Implementation <br />Housing Programs Progress Report <br />Describe progress of all programs including local efforts to remove governmental constraints to the maintenance, improvement, and development of housing as identified in the housing <br />element. <br />Program Implementation Status pursuant to GC Section 65583 <br />62 <br />63 <br />23. Successor Housing <br />Agency <br />B. Set aside Successor Housing Agency <br />funding for the purpose of increasing, <br />improving and preserving the <br />community’s supply of low- and <br />moderate-income housing. The <br />Successor Housing Agency funding <br />sources are generated from proceeds <br />from the sale of former Redevelopment <br />Agency housing assets, residual <br />receipts from former Redevelopment <br />Agency assets (i.e. loans), and a portion <br />of the loan repayments from the former <br />Redevelopment Agency to the City. This <br />fund includes land assets owned by the <br />Housing Authority acting as the <br />Successor Housing Agency that must be <br />developed for affordable housing or <br />sold at or above fair market value to <br />increase the Low and Moderate Income <br />Housing Asset Fund <br />Evaluate Availability <br />Annually <br />At the end of CY 2023, the City had a balance of $0 in Successor Housing Agency <br />funding. The projects funded in CY 2022 with Successor Housing Agency <br />funding are all underway and due for completion by the end of CY 2024. <br />24. Density Bonus <br />Ordinance Update <br />A. Update the City's local density bonus <br />ordinance as part of the Zoning Code <br />Update (see program 18) in accordance <br />with recent changes to state law to <br />incentivize the development of <br />extremely low-, very low-, and low- <br />income rental units. <br />12/1/2023 <br />The RFP for the Comprehensive Zoning Code Update was released and <br />proposals were due to the City on April 13, 2023. The City formally entered an <br />agreement with a consultant on October 17, 2023 to start the Zoning Code <br />Update. Through the Zoning Code update, the City will update the local Density <br />Bonus regulations in accordance with state laws. <br />B-104