APPROVED AS TO FORM AND LEGALITY
______________________________________
CITY ATTORNEY’S OFFICE
OAKLAND CITY COUNCIL
ORDINANCE NO. ______________ C.M.S.
ORDINANCE ESTABLISHING A MIDDLE INCOME JOINT POWERS
AUTHORITY BOND FINANCING PROGRAM FOR THE PURPOSE OF
FINANCING THE ACQUISITION, CONSTRUCTION AND
IMPROVEMENT OF OAKLAND MIDDLE INCOME HOUSING
PROJECTS; AUTHORIZING THE CITY ADMINISTRATOR TO JOIN
JOINT POWERS AUTHORITIES, ENTER INTO JOINT EXERCISE OF
POWERS AGREEMENT S AND OTHER AGREEMENTS WITH
MUNICIPAL FINANCE AGENCIES UNDER THE PROGRAM, AND
APPROVE THE ISSUANCE OF REVENUE BONDS BY SAID AGENCIES
FOR OAKLAND PROJECTS IDENTIFIED BY THE CITY
ADMINISTRATOR, WITHOUT RETURNING TO CITY COUNCIL; AND
MAKING RELATED CEQA FINDINGS
WHEREAS, many low- and middle-income Oakland households would benefit from the stability of deed -restricted affordable housing, and the establishment of a Middle Income Joint Power Authority Bond Financing Program could expand the number of deed-restricted affordable homes; and
WHEREAS, pursuant to Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”), the City and one or more existing municipal finance agencies may enter into joint e xercise of powers agreements for the purpose of promoting economic, cultural and community development and in order to exercise any powers common to the member agencies or granted by the Act, including by the issuance of bonds, notes or other evidences of indebtedness; and
WHEREAS, the City Council has determined that it is in the public interest and for the public benefit that the City become a m ember of one or more joint power s authorities in order to facilitate the promotion of economic, cultural and community development activities in the City, including the financing of projects therefor by the joint powers authorities; and
WHEREAS, the joint powers authorities the City will join will be authorized to issue and sell revenue bonds for the purpose, among others, of financing or refinancing the acquisition, construction, development and certain related costs of a middle-income multifamily rental housing development within the City; and
Daniel Rossi (Sep 25, 2025 15:07:50 PDT)
Daniel Rossi
2 WHEREAS, it will be in the public interest and for the public benefit that the Council approves the issuance of bonds by the joint powers authorities for the aforesaid purposes; and
WHEREAS, bonds issued by the joint power s a uthorities will not constitute debts, liabilities or obligations of the City; and
WHEREAS, Section 219 of the Oakland City Charter requires an ordinance to authorize the borrowing of money by the City; and
WHEREAS, creation of the Program and delegating authority to the City Administrator to administer the Program does not commit the City to any particular project, and therefore does not constitute a project under the California Environmental Quality Act (“CEQA”); now, therefore,
The Council of the City of Oakland does ordain as follows:
SECTION 1. The City Council hereby establishes the Middle Income Joint Powers Authority Bond Financing Program (the “Program”). The City Council hereby authorizes the City Administrator to establish and revise guidelines for which projects the City will include in the Program
SECTION 2. The City Council hereby authorizes the City Administrator on behalf of the City to join one or more joint powers authorities in connection with the Program, to negotiate and enter into any joint exercise of powers agreements in connection with the Program, and to negotiate and enter into any public benefit agreements and other associated documents in connection with the Program.
SECTION 3. The City Council hereby authorizes the City Administrator to approve the issuance of revenue bonds for middle i ncome housing projects in Oakland by these joint power authorities, without return to Council, provided that this authorization does not exceed the lesser of 600 total units or six projects. The City shall have no responsibility or liability whatsoever with respect to any such bonds or any other debts, liabilities and obligations issued by any joint powers authority, and such bonds and any other debts, liabilities and obligations of any joint powers authority shall not constitute debts, liabilities or obligations of any members including the City.
SECTION 4. Nothing in this Ordinance obliges the City to (1) provide any financing to acquire or construct a project or any refinancing of a project; (2) approve any application or request for or take any other action in connection with any planning approval, permit or other action necessary for the acquisition, construction, rehabilitation or operation of a project ; (3) make any contribution or advance any funds whatsoever to a joint powers authority; or (4), take any further action with respect to a joint powers authority or its membership therein.
SECTION 5. P rior to execution, all agreements in connection with this action shall be reviewed and approved as to form and legality by the City Attorney, and executed copies shall be filed with the City Clerk.
3 SECTION 6. The City Council finds that the actions taken under this Ordinance do not constitute a project under CEQA and therefore does not require CEQA review.
SECTION 7. The provisions of this Ordinance are severable, and if any clause, sentence, paragraph, provision, or part of this Ordinance, or the application of this Ordinance to any person, is held to be invalid, such holding shall not impair or invalidate the remainder of this Ordinance.
It is hereby declared to be the legislative intent of the City Council that this Ordinance would have been adopted had such provisions not been included.
SECTION 8. This Ordinance shall be in full force and effect immediately upon its passage as provided by Section 216 of the City Charter if adopted by at least six members of the City Council, or upon the seventh day after final adoption if adopted by fewer votes.
IN COUNCIL, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
AYES - BROWN, FIFE, GALLO, HOUSTON, RAMACHANDRAN, UNGER, WANG, AND
PRESIDENT JENKINS
NOES –
ABSENT –
ABSTENTION –
ATTEST:
ASHA REED
City Clerk and Clerk of the Council of the
City of Oakland, California
4 ORDINANCE ESTABLISHING A MIDDLE INCOME JOINT POWERS
AUTHORITY BOND FINANCING PROGRAM FOR THE PURPOSE OF
FINANCING THE ACQUISITION, CONSTRUCTION AND
IMPROVEMENT OF OAKLAND MIDDLE INCOME HOUSING
PROJECTS; AUTHORIZING THE CITY ADMINISTRATOR TO JOIN
JOINT POWERS AUTHORI TIES, ENTER INTO JOINT EXERCISE OF
POWERS AGREEMENTS AND OTHER AGREEMENTS WITH
MUNICIPAL FINANCE AGENCIES UNDER THE PROGRAM, AND
APPROVE THE ISSUANCE OF REVENUE BONDS BY SAID AGENCIES
FOR OAKLAND PROJECTS IDENTIFIED BY THE CITY
ADMINISTRATOR, WITHOUT RETURNING TO CITY COUNCIL; AND
MAKING RELATED CEQA FINDINGS
N O T I C E A N D D I G E S T
This Ordinance establishes a Middle Income Joint Powers Authority Bond Financing Program for the purpose of financing the acquisition, construction and improvement of middle income housing projects within Oakland. This Ordinance authorizes the City Administrator to join joint powers authorities and enter into joint exercise of powers agreements and other agreements with municipal finance agencies under the Program. This Ordinance also approves the issuance of revenue bonds by said municipal finance agencies for Oakland projects identified by the City Administrator, without returning to the City Council. Finally, this Ordinance make findings under the California Environmental Quality Act (CEQA) with respect to this action.