RESOLUTION NO. 25.XXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAGUNA BEACH, CALIFORNIA, AUTHORIZING THE
LAGUNA BEACH LOCAL HOUSING TRUST FUND’S
APPLICATION AND EXECUTION OF RELATED
DOCUMENTS UNDER THE STATE OF CALIFORNIA
DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT LOCAL HOUSING TRUST FUND
PROGRAM FROM THE VETERANS AND AFFORDABLE
HOUSING BOND ACT OF 2018
WHEREAS, the State of California (the “State”) Department of Housing and Community Development (“Department”) is authorized to provide up to $53 million under the Local Housing Trust Fund (“LHTF”) Program from the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1) (as described in Health and Safety Code (“HSC”) section 50842.2 et seq. (Chapter 365, Statutes of 2017 (SB 3)) (“Program”); and
WHEREAS, the Department issued a Notice of Funding Availability (“NOFA”) dated July 9, 2024, under the LHTF Program; and
WHEREAS, on April 9, 2024, the City Council of the City of Laguna Beach (“Applicant”) approved the establishment of the Laguna Beach Local Housing Trust Fund; and WHEREAS, Applicant is an eligible Local Housing Trust Fund applying to the Program to administer one or more eligible activities using Program Funds; and WHEREAS, the Department may approve funding allocations for the LHTF Program, subject to the terms and conditions of HSC section 50842.2, the LHTF Program Guidelines (“Guidelines”), NOFA, Program requirements, the LHTF Standard Agreement and other related contracts between the Department and LHTF award recipients.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAGUNA BEACH DOES RESOLVE:
Attachment 1
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SECTION 1. If Applicant receives an award of LHTF funds from the Department pursuant to the above referenced LHTF NOFA, it represents and certifies that it will use all such funds on eligible projects in a manner consistent and in compliance with all applicable state and federal statutes, rules, regulations, and laws, including, without limitation, all rules and laws regarding the LHTF Program, as well as any and all contracts Applicant may have with the Department (“Eligible Project”).
SECTION 2. The City of Laguna Beach City Manager and Assistant City Managers are hereby authorized to act as the manager in connection with the Department's award of funds for Eligible Projects pursuant to the above-described NOFA in an amount not to exceed $2,500,000 (the "LHTF Award").
SECTION 3. Applicant hereby agrees to match on a dollar-for-dollar basis the LHTF Award pursuant to LHTF Program Guidelines Section 104. Applicant hereby agrees to utilize matching finds on a dollar-for-dollar basis for the same Eligible Project for which Program funds are used, as required by HSC section 50843.5(c).
SECTION 4. Pursuant to Attachment 1, which is attached hereto and incorporated herein by reference, and the Applicant’s certification in this resolution, the LHTF funds will be expended only for Eligible Projects and consistent with all program requirements.
SECTION 6. Applicant shall be subject to the terms and conditions as specified in the LHTF Standard Agreement, HCS section 50842.2, and LHTF Program Guidelines SECTION 7. The City Manager and Assistant City Managers are authorized to execute the LHTF Program Application, the LHTF Standard Agreement, and any subsequent amendments or modifications thereto, as well as any other documents which are related to the Program or the LHTF Award to Applicant, as the Department may deem appropriate. 5 -3- Reso. #
ADOPTED this 14th day of October 2025.
Alex Rounaghi, Mayor
ATTEST:
Ann Marie McKay, City Clerk
I, Ann Marie McKay, City Clerk of the City of Laguna Beach, certify that the foregoing Resolution No. 25.XXX was duly adopted at a regular meeting of the City Council of said City held on _____________, 2025, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
City Clerk, City of Laguna Beach, California
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ATTACHMENT 1
Summary of Use of Program Funds and Matching Funds
Affordable Housing Projects. The City anticipates the Program Funds and Matching Funds to be used to fund to two specific projects for which the City has issued letters of intent. Each project has committed to spending at least 30% of the Local Housing Trust Fund funds for extremely low-income households. Funds not used for extremely low-income households will be used for lower-income households with household income of no more than 80 percent AMI.
The City anticipates using 100% of funds for affordable housing projects, specifically the provision of construction loans and/or permanent financing, of which a maximum of 5% may be used for administrative costs by the project.
Project Applicant AMI Levels
Served
Funding
Amounts
Requested
Preliminary
Funding
Amount
Status
340 St.
Ann’s
Related
California
Low, Very
Low,
Extremely
Low
$5,000,000 $5,000,000 Application
forthcoming
Total Requested $5,000,000* 5,000,000&
*Represents more than 2 times the $2,500,000 requested by the City of Laguna Beach from HCD’s Local Housing Trust Fund program.
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