Regional Housing Trust
San Bernardino Region
Presented by Dudek
November 2022
What is a Housing Trust?
01 Housing Trust Benefits
Housing Trust Vision and Goals
Why Do We Need a Housing Trust?
02 Why are we here?
Household Overcrowding
(more than 1 persons per bedroom)
The Region has Census tracts with concentrations of more than 20% of households that experience overcrowding.
Household Overpayment
(spending more than 30% of income on housing costs)
Renters are especially cost burdened
The Region has Census tracts where more than 80% of renters are burdened by the cost of housing.
Why are we here?
Poverty
(varies by number of people per household – a family of 4 [2 adults and 2 children] are considered to live in poverty if they earn less than $27k per year) The Region has Census tracts with concentrations of more than 40% of households living below the poverty level Cost of Transportation
(as a percent of total household income)
Regional average transportation cost is 27%
Regional average combined housing and transportation cost is 59% Tax Credit - Higher Resource Areas
(higher resource areas are more competitive for accessing TCAC funds for affordable housing) Most areas in the region fall within the moderate to low resource categories.
5th Cycle
6th Cycle
10%
of Lower-Income RHNA Achieved
RHNA Increase of 140%
73%
of Mod/Above Mod-Income RHNA Achieved
Regional Housing Needs Assessment (RHNA) Cycles
Steps Taken To Date
03 Strategic Plan
Outreach Summary
Funding Opportunity Analysis
Local Funding Gap Analysis
*Local funds provide a notable financing layer that closes the affordable housing development gap.
Housing Trust Structure
04 Purpose and Structure
Includes the following:
Vision
The San Bernardino Regional Housing Trust will attract significant funding and affordable housing development interest into the San Bernardino region. Through strong participatory governance, member jurisdictions will increase the region’s affordable housing supply, reduce household overcrowding, increase equitable access to community resources, and provide financial relief for vulnerable and cost-burdened households.
Goals
Increase/preserve region’s affordable housing supply
Attract affordable housing developers
Increase housing opportunities
Protect against displacement and poor housing conditions
Programming Priorities
Administration
05 Board of Directors Composition
Board of Directors:
One Director per Party (elected or designee by the jurisdictions’ appointed body) Alternates for each Director position
Members will be incentivized to join as founding members Members will be penalized for joining the Trust late
Two (2) year term limit (no limit to number of terms)
Administration
Staffing
Independent contractors, agents, volunteers, and consultants Treasurer and Auditor/Controller
Lumped in with COG Annual Audits
Attorney
Accounts
Need to establish accounts and subaccounts in commercial banking institutions
Cost of the Trust
06 Projected Cost
$315,000 Annual Operating Budget
Population
Annual Admin Fee
Up to 25,000
$10,000
25,001 – 50,000
$15,000
50,001 – 75,000
$20,000
75,001 – 100,000
$25,000
100,001+
$30,000
Visualizing How it Works
07 Next Steps
08 Steps to Establish a Regional Housing Trust
Schedule
October
November
December
January
February
March
April
May
CCMTAC
Letters of Interest
CCMTAC
GPC
MVSS
Mtn/ Desert Committee
Board
REAP 2.0 Application
Board
Establish JPA
(Ongoing)
Launch Housing Trust
(Ongoing)
2022
2023
Thank youwww.gosbcta.com/housing
Projected Cost
$345,000 Annual Operating Budget
Population
Annual Admin Fee
Up to 25,000
$10,000
25,001 – 50,000
$15,000
50,001 – 75,000
$20,000
75,001 – 100,000
$25,000
100,001 – 200,000
$30,000
200,001+
$35,000
Total (Based on Highly/Potentially Interested)
$345,000
Population
Annual Admin Fee
Up to 25,000
$5,000
25,001 – 50,000
$10,000
50,001 – 75,000
$15,000
75,001 – 100,000
$20,000
100,001+
$25,000
Total (Based on Highly/Potentially Interested)
$255,000
Administrative Plan
Includes the following:
Purpose and Structure
Vision Statement and Goals
Membership
Member Entry
Exiting the Trust
Dues
Administration
Staffing, Accounts/Subaccounts with commercial banking institutions Bylaws
Steps to Establish a Regional Housing Trust
Priority Housing Trust Activities