DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: Bridgett White
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
Continuation of briefing and discussion on a framework for a potential affordable housing bond
SUMMARY:
This item will include a continuation of the staff briefing and Subcommittee discussion on a framework for a potential housing bond program.
BACKGROUND INFORMATION:
On October 27, 2015, the Housing Commission to Protect and Preserve Dynamic and Diverse Neighborhoods established the Housing Bond and Funding Subcommittee in order to discuss relevant items on the Commission’s FY 2016 Work Plan and to develop recommendations to bring back to the Commission for possible action. At the January 26, 2016 Housing Commission meeting, the Commission voted to restore the seven- (7) member structure of the Subcommittee. The Subcommittee includes the following members from the Housing Commission: Jennifer Gonzalez - Chair, Gil Piette - Vice Chair, Debra Guerrero, Jackie Gorman, Richard Milk, Rod Radle, and Mu Son Chi.
The Housing Bond and Fund Subcommittee first met on November 9, 2015 to consider the following items:
• Discussion of Roles and Responsibilities of Subcommittee
• Affordable Housing Bond Overview and Case Studies
• Subcommittee Facilitated Discussion on Framework for Potential Affordable Housing Bond
• Discussion of Future Agenda Items
The Subcommittee has continued its facilitated discussion on a framework for a potential affordable housing bond monthly since January 2016.
ISSUE:
The Mayor’s Task Force Final Report recommends that a plan and timeline for the issuance of a housing bond for the rehabilitation, preservation, and creation of workforce/ affordable housing be developed. A bond issuance, to be brought forth to voters as early as 2017, has been identified as one of several strategies to meet current and future housing needs through rehabilitation and preservation of existing high-quality housing stock as well as creation of new housing units. The Housing Commission was charged with developing a framework for a potential housing bond based on an assessment of housing needs.
This item will include a continuation of the staff briefing and Subcommittee discussion on a framework for a potential housing bond program.
ALTERNATIVES:
This item is for briefing purposes only.
FISCAL IMPACT:
This item is for briefing purposes only.
RECOMMENDATION:
This item includes a continuation of the staff briefing and Subcommittee discussion on a framework for a potential housing bond program.