RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

* * * * * *

RESOLUTION IN SUPPORT OF AB 2503 (MULLIN), AFFORDABLE HOUSING AND WITH A REQUEST TO AMEND THE BILL TO ENSURE THAT “EXCESS ERAF” FUNDS ARE NOT USED TO BACKFILL REDUCTIONS IN ERAF FUNDING ASSOCIATED WITH LOCAL CONTRIBUTIONS TO HOUSING TRUST FUNDS

______________________________________________________________

RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, San Mateo County’s commitment to the creation of a diversity of housing options is evidenced by the recent creation of the Department of Housing; and

WHEREAS, AB 2503 (Mullin) is intended to encourage the development of affordable housing by authorizing cities and counties to enter into agreements for the creation of Housing Trust Funds that can be used for the acquisition, construction or development of affordable housing; and

WHEREAS, AB 2503 would reduce a participating county’s amount funds to the Educational Revenue Augmentation Fund (ERAF) by an amount equal to the amount deposited annually into the county’s Housing Trust Fund; and

WHEREAS, in basic aid schools where existing revenues adequately meet the minimum funding requirements, “excess ERAF” funding, not used for the minimum requirements, would be used as to meet the Housing Trust Fund related reductions in ERAF; and

WHEREAS, several basic aid schools are located in San Mateo County and could result in a loss of “excess ERAF” which funds a variety of important programs and services.

NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the Board of Supervisors by adoption of this resolution hereby supports AB 2503 (Mullin) regarding affordable housing and requests the bill be amended to ensure that “excess ERAF” funds are not used to backfill reductions in ERAF funding associated with local contributions to Housing Trust Funds.

* * * * * *