To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: APPROVE Establishment of Separate Interest-Bearing Account for the Permanent Local Housing Allocation Program (PLHA)
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
AUTHORIZE the establishment of a separate interest-bearing account for revenue derived from the State of California Permanent Local Housing Allocation (PLHA) Program.
FISCAL IMPACT:
No General Fund impact. PLHA Program funds are from the State of California provided to the County through an entitlement formula. Approval of this recommendation would provide that interest earned on this loan revenue would be accrued into a separate, dedicated account rather than to the General Fund.
BACKGROUND:
PLHA is an entitlement formula grant program available to local governments in California to help them address unmet housing needs in their local communities. PLHA is a newer State program with entitlement and competitive components intended to fund more affordable housing. The State designated Contra Costa County as the administrator of the entitlement grant award for Contra Costa's "Urban County," which is defined as the unincorporated communities of the County and all the incorporated cities except for the cities of Antioch, Concord, Pittsburg, and Walnut Creek, which are eligible to receive their own entitlements.
The PLHA program runs in five-year cycles, and after submitting its Five-Year PLHA Plan to the State, Contra Costa County was allocated up to an estimated $13,000,000 in PLHA grant funds. Contra Costa County's Five-Year PLHA Plan calls for the predevelopment, development, acquisition, rehabilitation, and preservation of multifamily, residential live-work rental housing affordable to extremely low-, very low-, low-, or moderate-income households, including necessary operating subsidies.
As part of the Five-Year PLHA Plan, the State required Contra C...
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