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COUNTY OF SAN MATEOInter-Departmental Correspondence |
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DATE: |
February 21, 2002 |
BOARD MEETING DATE: |
February 26, 2002 |
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TO: |
Honorable Board of Supervisors |
FROM: |
Supervisor Michael D. Nevin |
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Supervisor Richard S. Gordon |
SUBJECT: |
Adopt a Resolution Creating and Funding a San Mateo County Affordable Housing Program, allowing for City Participation, and Appointment of a Board Oversight Sub-Committee |
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Recommendation |
Adopt a resolution authorizing the creation and funding of a San Mateo County Affordable Housing Program, with provision for a more formal organization or entity to guide the program, including participation by the Cities within the county, and establishing a Board sub-committee to advise as to the nature and operation of the entity or structure through which the program functions. |
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Background |
In June 2000, an initial $1 million was committed by the Board of Supervisors to serve as "seed money" for a Housing Trust Program. In October 2001, this Board received the consultant's report to Peninsula Interfaith Action and the Advisory Committee regarding the implementation of a Housing Trust Program for San Mateo County. The report examined the feasibility of creating a San Mateo Housing Trust Fund that would provide financial assistance for preservation and the development of housing for people earning less than 120% of median county income. The primary focus of this report was on new public revenue sources that could be raised to capitalize such a Trust Fund. In receiving the report, the Board requested that staff return to the Board by December 31, 2001, with a plan for the organization of a Housing Trust Fund and with comments on funding issues. In addition this Board had approved $150,000 for consultant services to assist in the design and development of this program. The consultant contract is currently in development. |
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Discussion |
The staff report has been delayed due to the complexity of developing an organization model which accurately describes the purposes and function of the Housing Trust Fund and, most importantly, is inclusive in membership, with cities and private organizations being included. While the entity through which the program will operate has been preliminarily labeled as a "Trust", its final form will likely be something other than a traditional trust. It is the Cities within the county and other public and private entities and enterprises that will need to contribute the bulk of the financial support and land resources necessary for the program to be a success. One goal of the organization will be to provide incentives for city participation through such considerations as matching programs, legislative incentives, and housing credits for participation. |
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The program goals will be to promote the development of workforce and special needs (e.g., transitional; mental health, emancipated teens) housing that will include rental housing and home ownership opportunities for existing and new housing. The entity would work closely with non-profit housing developers and institutional real estate owners (e.g. school districts, governments agencies, churches and corporations) to facilitate a variety of transactions to increase the supply of housing in the County. |
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In order to get the program up and running, the Human Services Agency, and its consultants, together with the County Counsel, will continue their efforts in putting together a recommendation for the nature and form of the entity that will guide the program. |
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In order to confirm the intention of this Board of Supervisors to form and fund a Housing Trust Fund, we recommend the following actions: |
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1. The formation of a sub-committee of the Board to provide oversight of the development of the Housing Trust Fund. |
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2. The commitment to have $3 million available for the Housing Trust Fund. $1 million is presently committed. A commitment today of $2 million from general fund reserves would establish the $3 million total. |
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Vision Alignment |
The creation and funding of a San Mateo County Affordable Housing Program that addresses the need for affordable housing in San Mateo County keeps the commitment to offer a full range of housing choices, and goal number 9: Housing exists for people at all income levels and for all generations of families. A funded Affordable Housing Program contributes to this commitment and goal by providing the programmatic and financial support necessary for the development and maintenance of housing within the county that is affordable to families that cannot otherwise afford housing at the high market rates generally found throughout the County. |
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Fiscal Impact |
An initial $1 million has already been committed by the Board of Supervisors in the budget to serve as "seed money" for this program. The Peninsula Community Foundation appears poised to issue a $1 million grant for these purposes, but those funds have not yet been committed. In order to insure that $3 million is available this fiscal year, this program involves the commitment, this fiscal year, of another $2 million of general funds, subject to a reduction of $1 Million, if the PCF funds are received. |
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Supervisor Michael D. Nevin |
Supervisor Richard S. Gordon |
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cc: |
John L. Maltbie, County Manager |
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Lee Buffington, Treasurer-TaxCollector |
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Tom Huening, Controller |
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Thomas F. Casey III, County Counsel |
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Maureen Borland, Director Human Service Agency |
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\\COMMON\SHARED\CCO\CLIENT\H_DEPTS\HOUSING\Board Memo Affordable Housing.doc |