AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 07/01/2020
TO: Honorable Mayor and City Council Members
FROM: Management Services Department
SUBJECT:
Title
Public Hearing for City Council consideration of the State Permanent Local Housing Allocation (PLHA) Grant Application and Five-Year Plan.
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RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Approve the PLHA Formula Allocation Grant Application.
b. Adopt Resolution No. 2020-081, approving the City of Corona's PLHA Five-Year Plan.
c. Authorize the City Manager or his designee to execute the PLHA Program Application and Five-Year Plan, the PLHA Standard Agreement and related documents as well as any subsequent amendments or modifications related to the PLHA Program Grant.
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ANALYSIS:
SB2 was part of a 15-bill housing package aimed at addressing the state's housing shortage and high housing costs. Specifically, it establishes a permanent source of funding intended to increase the affordable housing stock in California. The revenue from SB2 will vary from year to year, as revenue is dependent on real estate transactions with fluctuating activity.
The legislation directs the California Department of Housing and Community Development to use 70 percent of the revenue collected to provide financial assistance to local governments for eligible housing-related projects and programs to assist in addressing the unmet housing needs of their local communities. This program is referred to as the Permanent Local Housing Allocation (PLHA) Program. The PLHA Program provides a permanent source of funding for local governments to implement plans that increase the affordable housing stock in the following manners:
1. Increase the supply of housing for households at or below 60% of area median income;
2. Increase assistance to affordable owner-occupied workforce housing;
3. Assist persons experiencing or at-risk of homelessness;
4. Facilitate housing affordability, particular...
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