Agenda

Return

C. 32

To:	Board of Supervisors
From:	LEGISLATION COMMITTEE
Date:	March 7, 2017

Contra

Costa

County

Subject:

Support Position on SB 3 (Beall): Affordable Housing Bond Act of 2018

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 03/07/2017

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

ABSENT:

Candace Andersen, District II Supervisor

Contact:

L. DeLaney, 925-335-1097

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: March 7, 2017
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT a position of "Support" on SB 3 (Beall): Affordable Housing Bond Act of 2018, as recommended by the Legislation Committee.

FISCAL IMPACT:

Unknown fiscal impact on Contra Costa County. This bill would enact the Affordable Housing Bond Act of 2018, which, if adopted, would authorize the issuance of State bonds in the amount of $3,000,000,000 pursuant to the State General Obligation Bond Law.

BACKGROUND:

SB 3 (Beall): Affordable Housing Bond Act of 2018, was introduced on 12/5/2016. It has been referred to two Senate committees: Transportation and Housing; and Government and Finance.

BACKGROUND: (CONT'D)

Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, home ownership for very low and low?income households, and downpayment assistance for first-time home buyers. Existing law also authorizes the issuance of bonds in specified amounts pursuant to the State General Obligation Bond Law and requires that proceeds from the sale of these bonds be used to finance various existing housing programs, capital outlay related to infill development, brownfield cleanup that promotes infill development, and housing-related parks.

This bill would enact the Affordable Housing Bond Act of 2018, which, if adopted, would authorize the issuance of bonds in the amount of $3,000,000,000 pursuant to the State General Obligation Bond Law. Proceeds from the sale of these bonds would be used to finance various existing housing programs, as well as infill infrastructure financing and affordable housing matching grant programs, as provided.

This bill would provide for submission of the bond act to the voters at the November 6, 2018, statewide general election in accordance with specified law.

This bill requires a 2/3 vote of the Legislature to be placed on the ballot.

No bill analysis has been prepared as yet. The text of the bill is included in Attachment A.

The Legislation Committee of the Board of Supervisors considered this bill at its Feb. 13, 2017 meeting and found it consistent with the Board's adopted Platform, policy #165, and voted unanimously to direct staff to place this on the Board's consent calendar for action. #165. SUPPORT efforts to increase the supply of affordable housing, including, but not limited to, state issuance of private activity bonds, affordable and low income housing bond measures, low-income housing tax credits and state infrastructure financing. This position supports a number of goals in the County General Plan Housing Element.

CONSEQUENCE OF NEGATIVE ACTION:

Without a position on the bill, the County could not advocate on it.