1.

HOUSING AUTHORITY FISCAL YEAR 2001-02 BUDGET

2.

ALLOCATION AND APPROPRIATION OF THE CALIFORNIA HOUSING FINANCE AGENCY HOUSING ENABLED BY LOCAL PARTNERSHIPS LOAN (DISTRICT: 5)

3.

TAX-EXEMPT FINANCING FOR THE SOUTHERN CALIFORNIA HOUSING DEVELOPMENT CORPORATION – VILLAGE WEST APARTMENTS (DISTRICT:  ALL)

HA 1.

SUBJECT:

HOUSING AUTHORITY FISCAL YEAR 2001-02 BUDGET

(DISTRICTS:  ALL)
 

OVERVIEW:

This is a request to approve the San Diego County Housing Authority Budget for Fiscal Year 2001-02, and take related actions involving Housing Authority programs.  The proposed budget will appropriate funds already under contract and approved by your Board.

The Housing Authority is funded primarily by contracts with the Federal Department of Housing and Urban Development (HUD).  The Housing Authority operates several housing programs that benefit very low, low and moderate-income households in the unincorporated area and in participating cities.  All costs of operating these programs are revenue offset.  There is no cost to the County General Fund.
 

The funding source is the U.S. Department of Housing and Urban Development, Housing Authority and contract cities.  If approved, this request will result in $67,970,089 current year costs and no annual costs.  The Department of Housing and Community Development provides staff and support services for the Housing Authority.  There is no cost to the County General Fund.
 

1.   Approve the Housing Authority Budget for Fiscal Year 2001-02;

3.   Adopt Resolution Number 01-167, approving the Fiscal Year 2001-02 Housing Authority budget, including Public Housing.   
 

ON MOTION of Commissioner Vizina, seconded by Commissioner Mitchell, the Board of Commissioners of the San Diego Housing Authority took action as recommended, on Consent, adopting Resolution No. 01-167, entitled:  RESOLUTION APPROVING FISCAL YEAR 2001-2002 HOUSING AUTHORITY BUDGET, INCLUDING PUBLIC HOUSING.

AYES:       Cox, Jacob, Horn, Vizina, Mitchell

ABSENT:  Slater, Roberts
 

HA 2.

SUBJECT:

ALLOCATION AND APPROPRIATION OF THE CALIFORNIA HOUSING FINANCE AGENCY HOUSING ENABLED BY LOCAL PARTNERSHIPS LOAN (DISTRICT: 5)
 

These recommended actions will allow the allocation and appropriation of up to $1,000,000 from the California Housing Finance Agency in the current fiscal year 2000-2001. These actions will aid financing of the acquisition costs of the Village West affordable housing project, a 96-unit apartment complex in the community of Fallbrook for low-income families.
 

The funding source is California Housing Finance Agency funds.  If approved, this request will result in up to $1,000,000 in revenue and expenditure in the current year. This request will not require any additional staff years.  There will be zero net County costs resulting from these actions. 
 

EXECUTIVE DIRECTOR/CHIEF ADMINISTRATIVE OFFICER

1.   Approve and authorize the allocation of up to $1,000,000 of California Housing Finance Agency funds for the Village West affordable housing project.

2.   Establish appropriations in an amount not to exceed $1,000,000 in the Housing Authority (Fund 285516, Org. 8872, Account 2340, Activity 713572) based on unanticipated revenue from the California Housing Finance Agency (Org. 8872, Account 9527, Activity 713572).
 

ON MOTION of Commissioner Vizina, seconded by Commissioner Mitchell, the Board of Commissioners of the San Diego Housing Authority took action as recommended, on Consent.

AYES:       Cox, Jacob, Horn, Vizina, Mitchell

ABSENT:  Slater, Roberts
 

HA 3.

SUBJECT:

TAX-EXEMPT FINANCING FOR THE SOUTHERN CALIFORNIA HOUSING DEVELOPMENT CORPORATION – VILLAGE WEST APARTMENTS (DISTRICT:  ALL)
 

The Southern California Housing Development Corporation (SCHDC) is seeking to issue bonds through the San Diego Housing Authority to finance the acquisition and rehabilitation of a multi-family housing development known as Village West Apartments.

The issuance of bonds for this financing is one component of an overall financing package.  The Department of Housing and Community Development is funding the balance through the Community Development Block Grant (CDBG) and HOME program.
 

Repayment of the proposed bonds is solely limited to payments received from the Southern California Housing Development Corporation.  If approved, this proposal will result in approximately $600 of annual revenue to be used to fund the County’s Investors Relations Program as approved by the Board of Supervisors in the County’s Debt Management Policy (B-65).  No additional staff years will be required. 
 

Adopt the resolution approving the financing agreement, subordination agreement, collateral assignment of deed of trust and the regulatory agreement, for the issuance of not to exceed $4,500,000 million of Multi-Family Housing Revenue Bonds.
 

ON MOTION of Commissioner Vizina, seconded by Commissioner Mitchell, the Board of Commissioners of the San Diego Housing Authority took action as recommended, on Consent, adopting Resolution No. 01-168, entitled:  A RESOLUTION OF THE GOVERNING BOARD OF THE HOUSING AUTHORITY OF THE COUNTY OF SAN DIEGO AUTHORIZING THE    ISSUANCE AN DELIVERY OF MULTIFAMILY HOUSING REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $4,500,000 FOR THE FINANCING OF A MULTIFAMILY RENTAL HOUSING PROJECT; DETERMINING  AND PRESCRIBING CERTAIN MATTERS RELATING THERETO; APPROVING AND AUTHORIZING THE EXECUTION OF AND DELIVERY OF VARIOUS DOCUMENTS RELATED THERETO; RATIFYING ANY ACTION HERETOFORE TAKEN AND APPROVING RELATED MATTERS IN CONNECTION WITH THE BONDS.

ABSENT:  Slater, Roberts