HomeMy WebLinkAboutResolution 2017-031 N.C.S. 02/27/2017Resolution No. 2017-031 N.C.S.
of the City of Petaluma, California
RESOLUTION SUPPORTING S112 (ATKINS), THE BUILDING HOMES
AND JOBS ACT, AND SB3 (BEALL),
THE AFFORDABLE HOUSING BOND ACT OF 2018
WHEREAS, few sources remain for cities to fund affordable housing in California after
redevelopment was eliminated and state housing bonds were exhausted; and
WHEREAS, the FY 2017-2018 state budget does not include money for affordable
housing; and
WHEREAS, funds generated through SB 2 and SB 3 will not make up the $1 billion lost
in housing funds, but they do provide the first meaningful source of funding since the state ended
redevelopment in 2011; and
WHEREAS, SB 2 the Building Homes and Jobs Act, would establish a permanent
source of funding for affordable rental or ownership housing, supportive housing, emergency
shelters, transitional housing and other housing needs through a $75 recordation fee on real
estate documents, estimated to generate hundreds of millions of dollars each year; and
WHEREAS, fifty percent of the proceeds would be allocated to local governments to be
used to address housing needs at the local level in addition to leveraging additional federal, local
and private investment in affordable housing, including nontraditional funding sources such as
tax increment and innovative preventive services; and
WHEREAS, SB 3, the Affordable Housing Bond Act of 2018, would, if adopted,
authorize the issuance of bonds in the amount of $3 billion pursuant to the State General
Obligation Bond Law; and
WHEREAS, the proceeds from the sales of these bonds would be used to finance various
existing housing programs, help with housing for the homeless and those at risk of becoming
homeless, low-income workers, create homeownership opportunities for California's low - and
Resolution No, 2017-031 MC.S. Page 1
moderate — income earners as well as provide infill infrastructure financing and affordable
housing matching grant programs.
NOW, THEREFORE, BE IT RESOLVED that the Petaluma City Council supports
Senate Bills SB 2 and SB 3 to address needed housing funding for cities and authorizes the
Mayor to sign letters of support on behalf of the Petaluma City Council.
REFERENCE:
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Under the power and authority conferred upon this Council by the Charter of said City.
I hereby certify the foregoing Resolution was introduced and adopted by the
Council of the City of Petaluma at a Regular meeting on the 27`h day of February,
2017, by the following vote:
Albertson, Vice Mayor Barrett, Mayor Glass, Healy, Kearney, King, Miller
None
None
None
City Clerk Pro Tem
Payyor
as to
Resolution No. 2017-031 N.C.S. Page 2