ITEM 4. 9
CITY MANAGER' S REPORT
OCTOBER 14, 2024 CITY COUNCIL REGULAR MEETING
ITEM: APPROVE PARTICIPATION IN THE SAN JOAQUIN
REGIONAL HOUSING FUND
RECOMMENDATION: Adopt a Resolution Approving Participation in the San Joaquin Regional Housing Fund Administered by
the San Joaquin Council of Governments Board of
Directors
SUMMARY:
The San Joaquin Council of Governments ( SJCOG) is requesting each member agency adopt a resolution committing to participate in the governance and operation of the San Joaquin Regional Housing Fund ( RHF). The RHF will be administered by SJCOG Board of Directors with the intent to improve housing production in the county and to leverage state and federal funding opportunities.
BACKGROUND:
On October 26, 2003, SJCOG Board of Directors approved the creation of a 501 ( c)( 3) non- profit corporation to implement a regional housing trust fund and to develop and submit required documents to the appropriate state and federal agencies. Now known as the San Joaquin Regional Housing Fund, the creation of this regional entity is intended as a tool to accelerate housing production, boost current local housing activities, and leverage various state and federal funding opportunities. SJCOG Board of Directors will serve as the Board of the RHF.
SJCOG is requesting each member agency adopt a resolution committing to participate in the governance and operation of the RHF. Having an RHF with all member agencies participating would increase the ability to leverage resources for a project locally. Member agencies must express their commitment to participate in the RHF
HCD)
to
definition
meet the
of
California
a regional
Department
housing trust
of Housing
fund to be
and
eligible
Community
to apply
Development' s
for matching
funds when a notice of funding is released.
Although participation in the fund at this time does not require an initial funding commitment, SJCOG will continue its efforts to meet with member agencies, philanthropic organizations, and stakeholders to confirm details of their participation and potential funding to be dedicated to the trust fund. It' s important to note that housing funds are usually not the primary funding source for affordable housing.
Instead, these funds are often used as " gap financing" to fill the void between housing costs and available financing.
CITY MANAGERS REPORT
OCTOBER 14, 2024 CITY COUNCIL REGULAR MEETING
SAN JOAQUIN REGIONAL HOUSING FUND
RECOMMENDATION:
PAGE 2
Staff recommends that the City Council consider all information provided and submitted, and if determined to be appropriate, adopt a resolution to participate in the San Joaquin Regional Housing Fund administered by the San Joaquin Council of Governments Board of Directors.
FISCAL IMPACT:
At this time, there is no fiscal impact with the City of Lathrop' sinvolvement in the Regional Housing Fund.
ATTACHMENTS:
1. City Council Resolution Participating in the San Joaquin County Regional Housing Fund.
CITY MANAGERS REPORT
OCTOBER 14, 2024 CITY COUNCIL REGULAR MEETING
SAN JOAQUIN REGIONAL HOUSING FUND
APPROVALS:
PAGE 3
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Salvador Navarrete Date
City Attorney
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City Manager
RESOLUTION NO. 24 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LATHROP
APPROVING PARTICIPATION IN THE SAN JOAQUIN REGIONAL HOUSING
FUND ADMINISTERED BY SAN JOAQUIN COUNCIL OF GOVERNMENTS ON
BEHALF OF THE SAN JOAQUIN COUNTY MEMBER AGENCIES
WHEREAS, on October 26, 2023, the San Joaquin Council of Governments SJCOG") authorized SJCOG staff to form a non- profit public benefit corporation as an eligible regional housing trust fund applicant for available funding and matching grants to expand sources of funding for housing as described in the Guidelines adopted by the California Department of Housing and Community Development in accordance with California Health and Safety Code sections 50842. 1et seq.; and WHEREAS, the San Joaquin Regional Housing Fund ( the " Fund") was formed and established in March 2024; and
WHEREAS, the Fund' s board of directors will be the SJCOG Board of Directors, and will carry out the responsibility for the Fund' s governance and
administration of the funds allocated and establishing necessary procedures to fulfill the Fund' s
purpose; and
WHEREAS, the specific purpose of the Fund shall be to provide planning, financing, and other services to increase housing opportunities for extremely low-, very low-, low- and moderate -income households ( including individuals experiencing homelessness) to obtain decent, safe, and sanitary affordable rental and ownership housing throughout San Joaquin County, California; and WHEREAS, the Fund intends to fulfill its purpose through collaboration with local municipal, county and other jurisdictions, as well as the private and philanthropic sectors ( collectively referred to as " Collaborators"); and WHEREAS, Collaborators and the Fund will assist in the provision of such planning, services and financing, leveraging and participating in local, state, federal, and private financing programs that assist extremely low-, very low-, low - and moderate - income households ( including individuals experiencing homelessness) in obtaining such affordable housing; and WHEREAS, the Fund intends to also engage in other charitable and educational activities associated with this goal as allowed by law; and WHEREAS, SJCOG and participating member agencies, will conduct planning and implementation activities that will accelerate housing production and housing - related initiatives.
Resolution No. 24-
NOW, THEREFORE, BE IT RESOLVED, that the City of Lathrop:
Section 1. Agrees that any City of Lathrop participation in any application made by the San Joaquin Regional Housing Fund for available funds will be in a manner consistent with the relevant funding source requirements, public or private, the most current Guidelines adopted by the California Department of Housing and Community Development, when applicable, and San Joaquin Regional Housing Fund requirements; and
Section 2. Commits to providing City of Lathrop documentation for completed projects that were funded in cooperation with the San Joaquin Housing Fund and other deliverables in a manner consistent with the California Department of Housing and Community Development, or other applicable fund source, and San Joaquin Regional Housing Fund requirements; and
Section 3. Agrees that prior to participating in any funding or project in coordination
legislative body
with
shall
the
consider
San Joaquin
for approval
Regional
a
Housing Fund the City of Lathrop' s
cooperative agreement between the
San Joaquin Regional Housing Fund and the City of Lathrop.
Resolution No. 24-
The foregoing resolution was passed and adopted this 14th day of October, 2024, by the following vote of the City Council, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Teresa Vargas, City Clerk
Sonny Dhaliwal, Mayor
APPROVED AS TO FORM:
Salvador Navarrete, City Attorney
Resolution No. 24-