ATTACHMENT 1
PROPOSED BURBANK GLENDALE PASADENA REGIONAL HOUSING TRUST
SUMMARY AND FUTURE NEGOTIATION POINTS
WHAT: PROPOSED STATE LEGISLATION TO CREATE THE BURBANK
GLENDALE PASADENA REGIONAL HOUSING TRUST FUND JOINT
POWERS AUTHORITY
PURPOSE: GENERATE NEW AFFORDABLE HOUSING FUNDING TO THE TRI-
CITY AREA
If legislation and funding is approved, the areas below to be negotiated. This is not an all-inclusive list. Additional negotiation points may be identified during the formation process.
Outlining Priorities and Identifying Funding Sources
1. Regional Trust to be Self-sufficient
a. Funds to cover Administrative Costs
b. No Cost to Cities
c. No Other Burden to Cities
2. Fair and Equitable Share of Funding
a. Oversight by Cities
b. Define Distribution of Funds that is Equitable to All c. Identify Possible Funding Sources and Cycles
3. Criteria for Distributing Funds
a. Develop Fund Management Policies
b. Develop Funding Criteria, including but not limited to:
i. Define types of Assistance
ii. Identify types of Projects
Regional Housing Trust Administration
4. Joint Powers Authority (JPA) Structure
a. Developing Policies and Procedures/Administrative Plan b. Possible Consultant to Coordinate Parameters including but not limited to:
i. Governing Board - Composition of Advisory Board
ii. Develop and Finalize “Business Plan”
b. Possible Separate Consultant to Staff the JPA
5. Dissolution Process
a. Opportunities for Cities to opt Out
b. Possible Future Closure of Program -Triggers and Process c. Other Legal Areas as Needed