Report to Mayor and City Council
Tuesday, June 07, 2022
Consent
SUBJECT:
Title
CONSIDER A LETTER OF SUPPORT REGARDING THE CREATION OF THE SOUTH BAY REGIONAL HOUSING TRUST WITH THE STATED PURPOSE OF FUNDING HOUSING TO ASSIST THE HOMELESS POPULATION AND PERSONS AND FAMILIES OF EXTREMELY LOW, VERY LOW, AND LOW INCOME WITHIN THE SOUTH BAY (CITY COUNCIL)
Body
I. SUMMARY
The South Bay Cities Council of Governments ("SBCCOG") Board of Directors held a special meeting on April 11th to discuss the potential creation of a South Bay Regional Housing Trust which would provide loans to facilitate the construction of affordable housing in participating cities. The Board is asking each city in the South Bay to support proposed formation legislation in concept as well as to support a state budget request for seed funding. Further, the legislators would like an indication - without a commitment - of whether each city would be interested in being a charter member of the regional housing trust should it be created.
At the Special Meeting, the SBCCOG Board approved a motion to move forward in the following ways:
* Support requesting legislation to form a South Bay Regional Housing Trust
* Support requesting seed funding from the state budget
* Direct Board Members to return to their respective city councils to find out if their city is interested in being a charter member of a regional housing trust should it be created
* Form a subcommittee of the Board to work on bylaws and Joint Powers Authority (JPA) documents
The SBCCOG Board requested cities will submit letters to the SBCCOG as soon as possible informing of their city's intention to participate. Following the Board's direction, the Board Chair and Hermosa Beach Council Member Armato, along with SBCCOG staff, met with staff from Senator Ben Allen's and Assembly Member Al Muratsuchi's offices to discuss housing trust formation legislation and a budget request. Both offices indicated their support for the concept; their in...
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