1 SBCTA/SBCOG in Collaboration with
Regional Housing Trust
San Bernardino Region
MARCH 2023
2 What is a Housing
Trust?01
3 Housing Trust Overview
A program
or
organization
that raises
funding for:
New Construction of Affordable & Workforce Housing
Affordable Housing Preservation or Rehabilitation
Financing for the Purchase of Land
Transitional and Supportive Housing
Pre-Development Loans
Down Payment Assistance
Community Land Trusts
4 Housing Trust Benefits
Flexible
Source of
Gap
Financing
• Revolving
Loan Funds
Ability to
Compete
for State
Funds
• Local
Housing
Trust
Program
Targeted
Solutions
for
Regional
Issues
• Workforce
Housing
Ability to
Pool
Resources
• Helps funds
go further
5 Housing Trust Vision and Goals
• Attract affordable housing developers.
• Increase/preserve the region’s affordable
housing supply.
• Increase equitable access to community
resources.
• Provide financial relief for vulnerable and
cost-burdened households.
• Protect against displacement and poor
housing conditions
Attract significant
funding and
affordable housing
development
interest into the
San Bernardino
region.
6 Why Do We Need a
Housing Trust?02
7 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
overcrowded.
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.
8 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.
9 5th Cycle 6th Cycle
Lower-Income Moderate/ Above Moderate-Income
22,663
34,543
2,216
25,220
5th Cycle RHNA Compared to Units Permitted
San Bernardino County
RHNA Units Permitted
10%
of Lower-
Income
RHNA
Achieved
Lower-Income Moderate/ Above Moderate-Income
57,570
80,540
6th Cycle RHNA Allocation
San Bernardino County
RHNA
Increase
of 140%
73%
of Mod/Above
Mod-Income
RHNA
Achieved
Regional Housing Needs Assessment (RHNA) Cycles
10 Steps Taken To Date03
11 Strategic Plan
Outreach
Summary
Housing Need
Analysis
Funding
Opportunity
Analysis
Housing Trust
Activities
Affordable
Housing and
Project Pipeline
Inventory
Local Funding
Gap Analysis
12 Outreach Summary
Outreach to all SBCOG member jurisdictions
Individual meetings with 15+ member jurisdictions
Letters of Interest Received from 11 member jurisdictions Interviews with outside organizations
• Orange County Housing Finance Trust
• County of Orange
• San Gabriel Valley Regional Housing Trust
• Inland SoCal Housing Collective
• San Diego Innovative Housing Trust
Group Presentations
• SBCOG Board and Ad-Hoc Committee
• City/County Managers
• Planning Directors
• City Councils
13 Funding Opportunity Analysis
Grant
Funding
Pursuits
Member
Agency
Revolving
Loan Fund
• Interest gained
over time
Nonprofit
Component
• Private
Donations
VMT
Mitigation
Bank
Earmark
Funds
14 15
Local Funding Gap Analysis
5 Recently Completed Developments
• 445 affordable units created
• $247,258,861 total investment
• Local funding share is 33% total project cost
4 Pipeline Projects
• 321 affordable units
• $146,880,151 total investment
• Local funding share is 35% total project cost
*Local funds provide a notable financing layer that closes the affordable housing development gap.
16 Housing Trust Structure04
17 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
18 A program
or
organization
that raises
funding for:
New Construction of Affordable Housing
Affordable Housing Preservation or Rehabilitation
Community Land Trusts
Workforce Housing
Pre-Development Loans
Down Payment Assistance
Financing for the Purchase of Land
Programming Priorities
19 Administration05
20 Proposed JPA Board of Directors Composition
§ Board of Directors:
§ One Director perJurisdiction (elected or designee by the jurisdictions’ appointed body)
§ Alternates for each Director position
§ Members could be incentivized to join as founding members
21 Administration
MOU with SBCOG to Administer Housing Trust
§ Staffing
§ Executive Director and agency staff
§ Independent contractors, agents, volunteers, and consultants § Treasurer and Auditor/Controller
§ Lumped in with COG Annual Audits
§ Attorney
§ Account Set Up
§ Need to establish accounts and subaccounts in commercial banking institutions
22 Cost of the Trust06
23 Projected Cost
§ $315,000 Annual Operating Budget (this option totals $315k) Population Annual Admin Fee
Up to 25,000 $26,000
25,001 – 50,000 $30,000
50,001 – 100,000 $32,000
250,001+ $35,000
24 Visualizing How it
Works07
25 26
27 28
Next Steps08
29 Steps to Establish a Regional Housing Trust
Identify Participating Jurisdictions
Draft Administrative Plan (based on grant
criteria)
REAP 2.0 Funding Application
Establish a Joint Powers Authority (JPA)
Adopt an Administrative Plan
30 Schedule
October November December January February March April May • CCMTAC
• Letters of
Interest
• CCMTAC
• GPC
• MVSS
• Mtn/ Desert
Committee
• Board
• Ad-Hoc
Committee
• Board • Establish
JPA
• (Ongoing)
• REAP 2.0
Application
• Launch
Housing
Trust
• (Ongoing)
2022
2023
City Council Presentations – Letters of Interest
31 Thank you