To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: RECEIVE the Housing Successor Annual Report for fiscal year 2023-24, as recommended by the Conservation and Development Director. (No fiscal impact)
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
RECEIVE the Housing Successor Annual Report for FY 2023-24, and DIRECT staff to file the report with the California Department of Housing and Community Development and post the report on the County website.
FISCAL IMPACT:
There is no impact to the General Fund regarding receiving and filing this annual report.
BACKGROUND:
The County is the housing successor to the former Contra Costa County Redevelopment Agency ("Redevelopment Agency"), dissolved on February 1, 2012. Each housing successor is required to prepare an annual report on how it meets the requirements imposed by Health and Safety Code Section 34176.1.
The annual report is required to contain the following: (1) a summary of housing successor duties; (2) the balance of the Low- and Moderate-Income Housing Asset Fund ("Housing Asset Fund"); (3) and inventory of properties held in the Housing Asset Fund; and (4) reports on performance thus far in meeting the income and age proportionality requirements of Health and Safety Code Section 34176.1.
The report is due to the California Department of Housing and Community Development by April 1st each year and must be posted on the County's website. This report brings the Housing Successor into compliance with reporting requirements. The report for Fiscal Year 2023-24 is being presented to the Board of Supervisors for its reference.
The County's progress on major requirements is summarized below. The balance of the Housing Asset Fund as of June 30, 2024, was approximately $8.4 million, of which $6.3 million is bond proceeds issued prior to dissolution for affordable housing purposes. The Housing Successor received $...
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