To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: Measure X Housing Funds - Proposed Revisions Related to Predevelopment Loans and First-Time Homebuyer Eligible Activities
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
APPROVE revisions to Measure X Housing Fund criteria related to Predevelopment activities and First-Time Homebuyer activities.
FISCAL IMPACT:
There is no General Fund impact. Measure X funds are part of a countywide, 20-year 1/2 cent sales tax approved by Contra Costa County voters on November 30, 2020.
BACKGROUND:
Measure X is a countywide 20-year, 1/2 cent sales tax approved by Contra Costa County voters on November 3, 2020. Collection of the tax began on April 1, 2021. The ballot measure language stated that the intent of Measure X is "to keep Contra Costa's regional hospital open and staffed; fund community health centers, emergency response; support crucial safety-net services; invest in early childhood services; protect vulnerable populations; and for other essential county services."
On November 16, 2021, the County Board of Supervisors (the "Board") approved allocating a portion of Measure X revenue to establish a new funding source to support the development of affordable housing and housing/homelessness related activities, now know as the Measure X Housing Fund (MX Housing Fund). The Board of Supervisors approved and committed $10 million of Measure X funds for Year One and approximately $12 million on an annual basis thereafter for the MX Housing Fund.
On September 20, 2022, the Board approved and authorized the County's Health Services Department-Heath, Housing and Homelessness Division (H3) and the Department of Conservation and Development (DCD) to administer the MX Housing Fund, with H3 administering 25 percent of the overall MX Housing Fund and DCD administering 75 percent of the MX Housing Fund.
As approved by the Board on Septembe...
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