Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: John L. Maltbie, County Manager
Subject: Measure K Allocation Plan and Affordable Housing Plan for FYs 2017-2019
RECOMMENDATION:
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Approve revisions to the Fiscal Year 2017-19 Measure K Allocation Plan and Affordable Housing Plan, direct staff to include all necessary changes in the June revisions to the Recommended Budget and also direct staff to develop additional criteria for funding rental preservation projects.
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BACKGROUND:
At its April 25 meeting, the Board considered, two options to increase Measure K funds for affordable housing, with corresponding reductions in other Measure K initiatives. The Board did not select an option and directed staff to meet with President Horsley and Supervisor Pine to prepare a recommendation for the Board's consideration at its May 16 meeting. A meeting was held on May 9 with community members who spoke at the April 25 meeting, and President Horsley and Supervisor Pine met with staff on May 10 to develop Board recommendations.
DISCUSSION:
After the April 25 Board meeting, Peninsula Clean Energy staff informed the County that they could repay $4.5 million of the loans provided from the General Fund by the end of December 2017. It was also discovered, upon further review of continuing Measure K initiatives, that approximately $250,000 ($500,000 over two years) was included to purchase and operate a vector airport system at San Carlos Airport. This expense can be included in the County's plan to comply with FAA regulations that require sales tax from jet fuel sales to be spent on airport operations, thereby reducing the $3 million annual set-aside from Measure K for this purpose to $2.75 million. The $5 million from these two sources can be used at the Board's discretion.
President Horsley and Supervisor Pine developed the following proposal for the FY 2017-19 allocation of Measure K funds and the us...
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