RESOLUTION NO. _____________

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

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RESOLUTION IN SUPPORT OF AB 2638 (LAIRD), HOUSING TRUST FUND

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

WHEREAS, under existing law, the Local Housing Trust Fund Matching Grant Program (LHTF) provides matching fund resources local housing trusts that are dedicated to creating affordable rental housing; and

WHEREAS, while the intent of LHTF was to encourage the construction of more affordable housing, many housing trusts have had difficulty utilizing the LHTF funds due to the overly restrictive conditions; and

WHEREAS, AB 2638 would relax some of the LHTF conditions as well as require that any unused funds returned to the state be returned to LHTF; and

WHEREAS, San Mateo County has already encumbered its $2 million limit of LHTF funds; and

WHEREAS, the increased flexibility of AB 2638 will better enable HEART to access unused funds returned by other housing trusts as well as any additional funding that may be allocated to LHTF;

NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the Board of Supervisors by adoption of this resolution hereby supports AB 2638 (Laird) regarding housing trust funds.

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