Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Allocation of Measure K and California HCD Housing for a Healthy California funds from the Affordable Housing Fund 8.0
RECOMMENDATION:
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Measure K: Adopt a resolution:
A) Approving Affordable Housing Fund (AHF) 8.0 commitments up to $33,666,437 consisting of $12,254,836 in Measure K FY 2020-21 funds approved by the Board of Supervisors for affordable housing purposes; $8,367,518 in Measure K funds previously allocated in AHF 7.0 but returned due to Affordable Housing Fund 7.0 funding conditions; approximately $7 million in State of California Department of Housing and Community Development (HCD) Housing for a Healthy California funds; approximately $5 million in HCD Local Housing Trust Fund funds; approximately $544,000 in HCD Permanent Local Housing Allocation funds; $150,000 in County Impact Fees; and $436,000 in Measure K funds previously allocated in AHF 5.0 for Former Foster Youth housing but returned due to project cancellation, for eight new construction affordable rental housing developments and one new construction affordable multifamily homeownership development, including any conditions attached to such funding recommendations; and
B) Authorizing the Director of the Department of Housing ("DOH"), or the Director's designee, to execute contracts, as approved by County Counsel, for funding the affordable housing projects indicated.
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BACKGROUND:
On April 8, 2013, the San Mateo County Board of Supervisors approved the allocation of approximately $13.4 million of unrestricted general funds for affordable housing purposes. These funds, which initiated the County's Affordable Housing Fund ("AHF"), were derived from a one-time distribution of Housing Trust Funds held by former redevelopment agencies in San Mateo County. There have been five subsequent AHF competitive fun...
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