TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
Alexandria Latragna, Policy and Management Analyst
SUBJECT:Title
Consideration of a South Bay Regional Housing Trust in Coordination with the South Bay Cities Council of Governments (City Manager Moe).
(Estimated Time: 45 Min.)
DISCUSS AND PROVIDE DIRECTION
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council discuss and provide direction regarding the support for creation of a South Bay Regional Housing Trust (SBRHT) in coordination with the South Bay Cities Council of Governments (SBCCOG).
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FISCAL IMPLICATIONS:
There are no fiscal implications associated with the recommended action.
BACKGROUND/DISCUSSION:
The SBCCOG is considering the creation of a regional housing trust (RHT), specific to South Bay cities, through a joint powers authority (JPA) to fund and finance the planning and construction of homeless housing, and extremely low, very low, and low-income housing projects. The SBRHT funding would make the construction of affordable housing more appealing to developers. A seven-member Board of Directors consisting of five SBCCOG board members and two local experts with experience in housing or homelessness would govern the SBRHT. The SBCCOG board would appoint members to the SBRHT board, and it would likely be staffed through a contract with the SBCCOG. Membership to the SBRHT through a JPA will be voluntary for cities within the SBCCOG.
The SBRHT would likely have dues paid by the member cities to cover the administrative operations of the trust, however, the exact structure and amount a city would pay would be determined at a later date. There is a possibility to offset some administrative costs through state and federal earmarks and grants. The SBRHT would be otherwise funded through state and federal budget requests ("earmarks"), state and federal grants, and through...
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