REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Oliver Chi, City Manager
PREPARED BY: Ursula Luna-Reynosa, Community Development Director
Subject:
title
Consider adopting Resolution No. 2020-13 related to the Joint Exercise of Powers for Membership in the Orange County Housing Finance Trust (OCHFT), and authorize the City Manager to execute the Orange County Housing Finance Trust Joint Powers Authority (JPA) Agreement
body
Statement of Issue:
Jamboree Housing, which is currently pursuing the development of a 43-unit senior permanent supportive housing project at 18431 Beach Boulevard, recently requested that the City of Huntington Beach consider joining the Orange County Housing Finance Trust ("OCHFT"), in order to allow them the opportunity to pursue affordable housing funds available through that particular entity. OCHFT was formed in 2019 as a Joint Powers Authority ("JPA") between the County of Orange and cities throughout the County. Enacted by Assembly Bill 448, the OCHFT is intended to provide a greater opportunity for Orange County cities to attract and secure funding for affordable housing and supportive housing. Services associated with supportive housing may include social services, mental health services, health care, counseling, job placement, veterans' affairs, and life and budget planning. The State has provided additional funding for affordable housing and is providing several billion dollars for eligible efforts and projects. The City's membership in the OCHFT would provide affordable housing developers access to gap funding for projects located in Huntington Beach as this source of funding is not available within nonmember municipalities. This added source of funding makes it more likely that affordable housing projects proposed within Huntington Beach would be financially viable. Adopting the proposed City Council Resolution and the executing the Joint Powers Agreement would enable th...
Click here for full text