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In addition to being granted the land, the new development was made possible by $850,000 in federal HOME funds, <br />$256,300 from the City of Eugene in system development charge exemptions and $54,000 in EWEB grant funds. <br /> <br />Through the Landbanking for Affordable Housing Program (Landbank), the City of Eugene acquires land suitable for the <br />future development of housing that is affordable to low-income persons. Using the Landbank, the City has created a steady <br />stream of affordable housing sites throughout the community. The projects are indistinguishable from market rate <br />developments and are often admired for their high-quality appearance, construction, and management. The Landbanking <br />Program is a cornerstone of Eugene’s overall affordable housing program. For more information, contact Micahel Wisth at <br />541-682-5540. <br /> <br /> <br /> <br />EUGENE CITY COUNCIL NEWSLETTER PAGE 5 <br />August 1, 2013 <br />