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File #: 23-0853    Version: 1 Name: Bay Area Housing Finance Authority (BAHFA) and 2024 Regional Affordable Housing Bond
Type: CC- Report Status: Agenda Ready
File created: 11/14/2023 In control: City Council
On agenda: 12/5/2023 Final action:
Title: REPORT - BAY AREA HOUSING FINANCE AUTHORITY (BAHFA) AND 2024 REGIONAL AFFORDABLE HOUSING BOND BACKGROUND: This report item will provide an overview of the Bay Area Housing Finance Authority (BAHFA) and its preparation of a $10-20 billion Regional General Obligation Affordable Housing Bond for the November 2024 election. Should the regional housing bond pass, the City of Santa Rosa (City) will potentially receive an appropriation ranging between $121 million - $242 million, to be allocated by the City Council (Council). To accept any bond proceeds, an Expenditure Plan that complies with regulations established by BAHFA, to include minimum investment targets and a plan for the flexible funding portion, must be adopted by Council no later than 2025. RECOMMENDATION: It is recommended by the Housing and Community Services Department that the Council: 1) receive information about the Bay Area Housing Finance Authority and the 2024 Regional Affordable Housing Bond; and 2) by motion, direct ...
Sponsors: Housing and Community Services
Indexes: Not a Project
Code sections: 15061(b)(3) - General Rule Exemption, 15378 - Not a Project
Attachments: 1. Staff Report, 2. Presentation, 3. Late Correspondence (Uploaded 12-05-2023)