REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Oliver Chi, City Manager
PREPARED BY: Oliver Chi, City Manager
Subject:
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Adopt Resolution No. 2020-29 to authorize and adopt a Five-Year Plan for Permanent Local Housing Allocation (PLHA) Program Funds and to submit an application for funding in year 1 (Fiscal Year 2020-2021)
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Statement of Issue:
To complete an application for Permanent Local Housing Allocation (PLHA) program funds, the City of Huntington Beach must conduct a public hearing to consider and authorize the City's proposed Five-Year Plan for the use of these funds, as evidenced by the recommended adoption of Resolution No. 2020-29.
Financial Impact:
Over the next five years, the City expects to receive approximately $3,290,970 in PLHA program funds, with the first year's allocation in FY 2020-21 estimated at $548,495. The City is not required to provide matching funds.
The revenue source of PLHA entitlement funds is derived from recording fees for real estate transactions paid to the County of Orange. Therefore, it should be noted that these allocations are close approximations that will vary, depending on the number of transactions conducted in a given calendar year.
Recommended Action:
recommendation
Adopt Resolution No. 2020-29, "A Resolution of the City Council of the City of Huntington Beach to Authorize and Adopt a Five-Year Plan for Permanent Local Housing Allocation Program Funds and to Submit an Application for Funding in Year 1 (Fiscal Year 2020-2021)."
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Alternative Action(s):
The City Council may make the following alternative motion(s):
1. Deny Resolution No. 2020-29; or
2. Postpone the hearing to a later date and direct staff to modify the Five-Year Plan and Application for PLHA entitlement funds.
Analysis:
In 2017, the State of California approved SB 2, which provides local governments with a permanent source of funding for housing-related projects an...
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