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HomeMy WebLinkAboutMINUTES - 08061991 - IO.1 • •- I .O. -1 TO: BOARD OF SUPERVISORS F L Contra FROM: \ Costa INTERNAL OPERATIONS COMMITTEE : �. ; July 22 1991 �- Count DATE: ' cour+K, REPORT REGARDING THE HOUSING TRUST FUND TASK FORCE SUBJECT: SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION RECOMMENDATIONS 1 . Direct staff , from the Community Development Department to undertake the necessary staff work to document the housing needs in the County, and the data necessary to identify priorities for the development of affordable housing. 2. Request staff from the Community Development Department to convene the Housing Trust Fund Task Force by late September or early October for the purpose of beginning their work by reviewing the housing needs data and attempting to reach a consensus on the fact that there is a need for affordable housing and agree on the priorities for the development of affordable housing. 3 . Request staff from the Community Development Department to issue an RFP to the four firms which have been identified in the attached report, evaluate those RFP' s and make a recommendation to the Board of Supervisors on the most qualified firm to which a contract should be awarded, anticipating that the consultant would begin work in November, 1991. 4. Request staff to revise the schedule for meetings of the Housing Trust Fund Task Force in such a way that the first three meetings on the attached proposed schedule are collapsed into two meetings so that the Task Force can agree on priorities and review the scope of work for the consultant by their second meeting. CONTINUED ON ATTACHMENTYeS YESzel SIGNATURE: RECOMMENDATION OF COUN rAATOR RECOMMENDATION OF BOARD COMMITTEE APPROVE TSIGNATURE S: ORODER /U E WRIGHT McPEx ACTION OF BOARD ON August 6, 1991 APPROVED AS RECOMMENDED X OTHER VOTE OF SUPERVISORS X I HEREBY CERTIFY THAT THIS IS A TRUE UNANIMOUS(ABSENT ) AND CORRECT COPY OF AN ACTION TAKEN AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN. CC: ATTESTED August 6, 1991 Please see Page 2. PHIL BATCHELOR,CLERK OF THE BOARD OF SUPERVI RS AND COUNTY ADMINISTRATOR II BY il DEPUTY M382 (10/88) 5 . Authorize the Auditor-Controller to establish a Special Revenue Account for affordable housing development funds. 6. Leave this item on referral to our Committee to provide continuing oversight to the work of the Task Force. BACKGROUND: On August 13, 1990 the Board of Supervisors agreed to establish a Housing Trust Fund Task Force, which was expanded in October, 1990 and to which appointments have been .made. Staff shortages in the Community Development Department have made it difficult to convene the first meeting of the Task Force before now. However, with the recent arrival of a new Senior Housing Planner the work of the Task Force can now move forward. The attached reports from Jim Kennedy dated July 15 and July 19, 1991 outline the status of the work which is before the Task Force. We concur with the attached reports except as they are modified by the above recommendations. The proposal to establish an Affordable Housing Special Revenue Account would not involve General Fund revenues of the County. The Housing Trust Fund Task Force which has been appointed will be evaluating and making recommendations to the Board in the future with respect to potential sources of monies to capitalize the Affordable Housing Special Revenue Account. An identified source of money for the initial capitalization already exists, and funds will need to be deposited. On July 9, 1991, the Board of Supervisors, sitting as the Governing Board of the Contra Costa Home Mortgage Finance Authority, ( in partnership with the City of Antioch) , authorized the sale of 1991 taxable Home Mortgage Refunding Bonds. The Authority members - the County and the City of Antioch - will receive a consideration payment totaling approximately $2 million as a result of the sale of the taxable bonds. These proceeds must be used for affordable housing purposes. The County will receive approximately 750 of the , consideration payment. These funds will represent the initial source of revenue for the Housing Trust Fund. The County will be in a position to receive these funds on approximately August 1, 1991. These funds should be deposited into a Special Revenue Account in order for the interest earnings to accrue back to the account. Also, Special Revenue Accounts would not be part of a County Department' s regular budget appropriation and therefore could be carried over from year to year. cc: County Administrator Jim Kennedy, Deputy Redevelopment Director Kenneth J. Corcoran, Auditor-Controller County Counsel Housing Authority CONTRA COSTA COUNTY COMMUNITY DEVELOPMENT DEPARTMENT DATE: July 15, 1991 TO: Internal Operations Committee Superviso bert I. Schroder Supefvis Sun a Wright McPeak i FROM: reputy(y n , Dit - edevelopment SUBJECT: Sta eport on Housing Trust Fund Activation of the Housing Trust Fund Task Force has been inhibited by a vacancy in the Senior Housing Planner position in the Community Development Department. That position has recently,been filled and the Housing Trust Fund Task Force process will be activated. The purpose of this memo is to provide a summary status report as of July 12, 1991. I. Housing Trust Fund Task Force A. Membership A current membership list of the Housing and Trust Fund Task Force is included as Attachment A. Still pending are a third nominee of the Contra Costa Mayor's Conference and a representative of Congressman George Miller, the United Council of Spanish Speaking Organizations and the Bay Area Council (Tom Cook no longer works for the Bay Area Council). Staff is attempting to get those organizations to designate a representative. B. First Meeting Date Staff is suggesting that an initial meeting date be set in late September. This will enable the retained consultant (see Section II below) to get their work underway. Supervisors McPeak and Powers need to provide staff with available dates in order to set this meeting. II. Housing Trust Fund Consultant A. Consultant Purpose A qualified consultant will be hired to undertake and identification and analysis of alternative housing trust fund revenue sources. A consultant would work with staff and the Task Force to review and evaluate funding mechanisms and to develop recommended strategies and administrative structures for implementation of a Housing Trust Fund. A Request For Qualifications (RFQ) was circulated to over 45 firms (Attachment 2). The County received nine Statements of Qualifications from' teams representing prime contractors and sub-contractors: Based on a review of these qualifications, staff has narrowed the prospective consultants from whom we will request a scope of work and cost estimate (Attachment 3). The following four teams are in the final running: 1. Bay Area Economics/Community Economics; 2. Keyser Marston Associates (prime), and sub-contractors Caine, Gressel, Midgley & Slater (housing finance), Rice, Nemerovski, Canady, Robertson & Falk (legal) and Shute, Mihaly & Wineberger (legal); 3. Kotin, Regan & Mouchley (prime), and sub-contractors McClelland, Coren (municipal finance), the Waterhouse Company (redevelopment), Saybrook Capital Corporation (public finance), Arthur Shaw (community lending), and Jones, Hall, Hill & White (legal); and 4. Rosen & Associates (prime), and sub-contractors Goldfarb & Lipman (legal), Elizabeth Seifel & Associates (economic analysis), and the Agora Group (housing finance). A scoping session with the short list of consultants is to be held on July 17, 1991. Staff will provide a verbal report of that session on July 22nd. III. Capitalization of the Housing Trust Fund A. 1991 Single Family Taxable Mortgage Refunding Bonds On July 9, 1991, the Contra Costa Home Mortgage Finance Authority (the County plus the City of Antioch) approved the sale of its 1991 Single Family Taxable Mortgage Refunding Bonds. The members of the Authority will receive a consideration payment upon the sale of the 1991 Taxable Refunding Bonds. This consideration of payment arises from transactions in this secondary bond market. The .magnitude of the consideration payment is approximately $2 million. This consideration payment will be split roughly 75%/25% between the County/City of Antioch. The proceeds of the consideration payment must be used for housing purposes. The 1991 Taxable.Refunding Bonds are expected to sell the week of July 15th and close the week of July 29th. The consideration payments would be made at the time of closing. B. Special Revenue Account With the receipt of the initial revenue for the Housing Trust Fund being imminent, the County needs to establish a special revenue fund in which to deposit such monies. A special revenue account would permit interest earnings on the fund to accrue back to the fund. Staff is recommending that Internal Operations Committee forward a recommendation to the Board regarding the establishment of an affordable Housing Special Revenue Account. A draft copy of the Board order accomplishing said action is attached. JK/jb Enclosures cc: County Administrator County Counsel Auditor-Controller Val Alexeeff Harvey Bragdon Kathleen Hamm File D 1.14(a) SRA 17/iostatus.mem *** ATTACHMENT A *** HOUSING TRUST FUND TASK FORCE M E117BERSHIP LIST (as of July 12, 1991) REPRESENTING NAME ADDRESS Building Industry Association Guy Bjerke 1280 Boulevard Way, #211 Walnut Creek, CA 94595 Contra Costa Board of Realtors Darlene Houk P. O. Box 5207 Walnut Creek, CA 94596 Contra Costa Council Diane Longshore One Annabel Lane, #214 San Ramon,-CA 94583 Housing Authority of Contra Costa Perfecto Villarreal P. O. Box 2759 Martinez, CA 94553 Contra Costa Legal Services Dara Schur P. O. Box 2289 Richmond, CA 94802 Building & Construction Trades Council Sal Spataro 771 Smith Avenue Pinole, CA 94563 Bay Area Council TBD 847 Sansome St. San Francisco, CA 94111 BRIDGE Housing Corporation Carol Galante 82 Second St., #200 San Francisco, CA 94105 IMCO Realty Services Susan Jackson 1850 Mt. Diablo Blvd. #220 Walnut Creek, CA 94596 League of Women Voters Lynn Osborn 43 Willow View Court Danville, CA 94526 Coalition of Labor and Business Gary Gibbs 500 Executive Parkway, #285 San Ramon, CA 94583 Shelter, Inc. Merlin Wedepohl 1070 Concord, Ave. #200 Concord, CA 94520 Pittsburg Economic & Housing Rosemary Tumbaga P. O. Box 1397 Development Corp. Pittsburg, CA 94565 Advisory Council on Aging Ralph Cooperman 3 Penrith Walk Pleasant Hill, CA 94523 Greater Richmond Interfaith Program Paul J. Schultz 2369 Barrett Ave. Richmond, CA 94804 California Department of Housing & Cathy Creswell P. O. Box 952054 Community Development Sacramento, CA 94252 U.S. Department of Housing & Gary Hanes 450 Golden Gate Avenue Community Development San Francisco, CA-94102 Central Labor Council Steve Roberti P. O. Box 389 Martinez, CA 94553 Wells Fargo Bank Nikki Maziasz 2770 Shadelands Dr., #101 Walnut Creek„ CA 94596 Congressman George Miller TBD Chevron USA Bob Summers P. O. Box 5052 San Ramon, CA 94583-0952 United Council of Spanish Speaking TBD . Organizations Satellite Senior Homes Carol Severin 540 - 21st St. Oakland, CA 94612 Contra Costa Mayors Conference Gayle Uilkema Mayor, Lafayette Contra Costa Mayors Conference Beverly McDowell Vice-Mayor, Martinez Contra Costa Mayor- inference TBD TBD Board of Supe-- jrs Sunne Wright McPeak 2301 Stanwell Dr. Concord, CA 94520 Board of Supervisors Tom Powers 100 - 37th St. Richmond, CA 94805 hs/ra53:hsgtskfc.]st .. ... Ra CL,.Y_C•. Community Contra DirectHarvey ofE. ommu n Development Director of Community Development ta Department ("��s County Administration Building County 651 Pine Street 4th Floor, North Wing Martinez, California 945530095 Phone: (415) 646-4076 �, t March 18, 1991 TO: Consultants" w'hHousing, Public Finance and/or Fiscal AnalysisrCapa6k!Aies FROM: Jim Kdy�� Depu�y ..Director .- Redevelopment SUBJECT: RFQ/ for An'a' lysis of Alternative Housing ,Trust Fund Revenue Sources Contra Costa County invites qualified consultants to submit their credentials to undertake an identification and analysis of Alternative Housing Trust Fund Revenue Sources. Housing Trust Funds are a dedicated local source of revenue to finance affordable housing. Housing Trust Funds may be capitalized by one time contributions and/or by permanent annually renewable dedicated revenue streams. Attached as Appendix A is a background report prepared by Contra Costa County staff. A request for qualifications is enclosed. Responses are requested no later than 5:00 p.m. April 12 , 1991. Because of the .multi disciplinary nature of the task, the County encourages joint proposals by two or more firms with specialties in the housing, and public finance/fiscal analysis areas. JK/jb Enclosure cc: File D1. 14 SRA13/althsgtf. ltr A REQUEST FOR QUALIFICATIONS - ANALYSIS OF HOUSING TRUST FUND ALTERNATIVES I, Background Contra Costa County is requesting that qualified consultants in the housing, public finance, and fiscal analysis areas submit their credentials to undertake an analysis of alternative revenue sources for a Housing Trust Fund. Housing Trust Funds are a local source of revenue to finance affordable housing. Housing Trust Funds may be capitalized by one-time contributions or by permanent annually renewable dedicated revenue streams. Local Housing Trust Funds are emerging . because of . the declining presence- of state and regional sources for affordable housing. The Contra Costa County Board of Supervisors-.'has established a Housing Trust FundTask Force' to '�work with County staff to evaluate funding mechanisms and to recommend appropriate funding mechanisms and administrative structures for a Housing Trust Fund. The analysis would, be focused on the following Housing Trust Fund Revenue Sources: 1. Inclusionary housing programs; 2 . Development fees on non-residential development; 3. General Obligation Bonds approved by the voters; 4 . Utility taxes; 5. Business taxes; 6. Occupancy taxes; and 7 . Other voluntary sources, 'such as escrow interest' funds. II. Desired Qualifications In order to conduct the required analysis of alternative Housing Trust Fund Revenue sources, the County anticipates requiring the services of a firm or firms that have experience in the housing programs/housing finance areas, as well as public finance and local government fiscal affairs. Consulting firms may possess one or more of these qualifications. Two or more firms may submit joint proposals. The County of Contra Costa reserves the right to determine whether one or both of the firms would be retained. III. Review of Qualifications Firms submitting their qualifications will be reviewed using the following criteria: 1. overall experience and reputation of the firm relative to Housing Trust Funds and related fields; 2. Ability to meet timing requirements of the program; 3. Experience in conducting studies in the Housing Trust Fund or related fields; 4. The County's minority business enterprise and women business enterprize goals. IV. Schedule 1. Submittal of Qualifications, (one copy, loose leaf) . A firm (or firms) meeting the criteria identified in Section III must submit their qualifications on or before 5:00 p.m. April 12, 1991 to: Jim Kennedy Deputy Director - Redevelopment Contra Costa County Community Development Department 651 Pine Street, 4th Floor, North Wing Martinez, CA 94553 2. Screening Process The firms submitting qualifications will be screened by County staff. From the original qualification statements, staff will select a short-list of firms to prepare full proposals. Those selected firms will be required to: A. Attend a Scoping Session regarding the alternative Housing Trust Fund Analysis. This briefing session will be scheduled by the County and firms on the short-list will be notified. B. Submit a specific Scope of Services and a proposed price for said services to Contra Costa County. C. If necessary, at the option of the County, further interviews may be held. Aft { �4 t V. Further Information Further information on the Request for Qualifications may be obtained by contacting: Jim Kennedy, Redevelopment Director Contra Costa-County 651 Fine Street, 4th Floor, North Wing Martinez, . CA 94553 (415) 646-4076 SRA 13/jblh3gLs1nd.4&1 ^ 4= v �-- P � K ' Agajanian & Associates Alexander, K0Unar & &XcGam RA:K8LZ:hsnQfndJb| 666 Baker St, Suite 105 71 Stevenson St` Suite 1900 March 13, 1991 ~^ Costa Mesa, CA 92626 San Francisco' CA 94105 Edwin \Nel|a ' Bay Area Economics Brobeok' Phleger & Harrison BARTELS WELLS ASSOCIATES 2560 Ninth St.' Suite 210A One &4orhmt Plaza 1630 Bush St. Berkeley, CA 34710 Spear Street Tower San Francisco, CA 84109 San Francisco, CA 94105 Caine Gnaomg K8idg|eY Slater. Community Development Financial Roger Davis 1 Post St.' Suite 2130 Corp ORRiCk:HBRR|NGTON & 3UTCL|FFE Son Francisco, CA 94104 8840 Warner Ave.' #203 400 Sansome St' Fountain Valley, CA. 92708 Son Francisco, CA-94111 John B. Dykstra & Asoociatas Economics Research Associates Richard Morales 6644 Ascot Dr. . , 1 100 Battery St' Suite 350 EVEWSE0D<]O(3E_ Oakland, CA 94611 San Francisco, CA 94111 44 Montgomery St` Suite 500 , Son Francisco, CA 94104 Fie|dmnan, Ro|app & Associates Roger Clay Ernest Bodnar 2100 S.E. Main St, Suite 210 Goldfarb & Lipman KADIE JENsEN JOHNSON Q Irvine, CA 92714 One Montgomery Somet, 23rd Floor B[>DNAR ' Son Francisco, CA 94104 233 Dextar Place San Ramon, CAS4583 John Lemmnon GCG Municipal Finance Inc. GOVERNMENT FINANCE ASSOC 3010 0d Ranch Parkway, Suite 330 585 Market St., Suite 2040 Seal Beach, CA 80740'2750 San Franc\aco, CA 94105 Gruen Gruen + Associates Halcyon Ltd. Mindedivar, da Llamas Q' Associates 564 Howard 8t. 930 Montgonnory, Suite GOO 150 W. First St, Suite 280 Sun Francisco, CA 94105'3002 San Froncisco, CA 84133 C|anornont, CA 91711 Hyde, K8i|bn & Savage Jones Hall Hill & White Katz, Hollis, Coren & Associates, Inc. 428J Stremt, Suite 400 A Professional Law Corporation 550 South Hill St, Suite 980 Sacramento, CA 95814 FourEmbavoadoro Conte,' Suite 1850 Lou Angeles, Ca 90013'2410 San Fmnoiaco, CA 94111 ' KaU|nO' Nonhcross @ NobhOa. Inc. Kenneth Leventhal & Company Keyser Marston Associates, Inc 585 Market 8t, Suite 1350 2049 Century Park East, Suite 1700 55 Pacific Avenue k8aU San Fianniuoo, CA 94106 Lou Angeles, CA 90067 San Francisco' CA 94111 Joe Armstrong Kibo|^ Green Inc. Kosrnono & Associates, Inc, KELL|NG NORTHCROS3 NU8R\GA 2001 Wilshire Blvd., Suite 420 3800 Alameda Ave, #1180 595 Market Sc, #1350 Santa Monica, CA 90403 Brubank' CA 91505 San Francisco, CA 94105 C2 Kotin Regan & MouchIV Inc. Kronick, Moskovitz, Tiedemann & Laurin Associates 11611 San Vicente Blvd., Suite 700 Girard 6363 Auburn Blvd., Suite B Los Angeles, CA 9.0049 770 L St., Suite 1200 Citrus Heights, CA 95621 Sacramento, CA 95814 Marten C. Coren Meyers, Nave, Riback & West Naphteli Knox & Associates MCCLELLAND COREN Gateway Plaza 677 High St. McDonough, Holland & Allen. 777 Davis St., Suite 300 Palo Alto, CA 94301 555 Capitol Mall, Suite 950 San Leandro, CA 94577 Sacramento, CA 95814 Pacific Meridian Resources Piedmont Associates Edwin Ricci 5900 Hollis St., Suite G One Market Plaza PUBLIC FINANCIAL MMIAGEMENT Emeryville, CA 94608 1400 Steuart Tower 345 California St., Suite 2550 San Francisco, CA 94105 San Francisco, CA 94104 Kenneth Rosen San Francisco Development Fund SedwaV & Associates Center for Real Estate 1107 Oak Street Four Embarcadero Center, Suite 720 University of California - Berkeley, San Francisco, CA 94117 San Francisco, CA 94111 Berkeley, CA 94720 Sheppard, Mullin, Richter & Hampton Spear Street Advisors, Inc. John R. Trauth & Associates 4695 MacAthur Court, 7th Floor. 155 Sansome St., Suite 650, 14 Tovon Court Newport Beach, CA 92660 San Francisco, CA 94104 CA 94965 Tsen & Associates Urban Futures, Inc. Lucina Vernazza, Principal 330 - 15th St. 801 E. Chapman Ave., Suite 106 Vernazza Wolfe Associates, Inc. Oakland, CA 94612 Fullerton, CA 92631 5273 College Ave., Suite 202 Oakland, CA 94618 Therese Brekke Williams-Kuebelbeck & Associates, WILDAN ASSOCIATES Inc• 6140 Stoneridge Mall Rd., Suite 3.40 1301 ShorewaV Road, Suite 317 Pleasanton, CA 94588 Belmont, CA 94602 *** ATTACHMENT C *** CON.POSITE RANO-GS housing Real ]state Trust & Housing Kncwledge Public Ereajth Overal Fund Finance cf Contra Finance of Proposed QLality of Experience Experience Costa exF_rience Teas Propcsal (Max - ij !Max = ) (Max = 3) (;'ax = 3 fMax - 3 ;Max 3Eyser Xarstcn/CGNS/ :t al. Rosen a Associates/G & �;'SE1fEljAgOra 3 _ -„ aot_n Regan/XcClellan4 Ccre.,IUHHW et a1. Bay urea Econcncs,/Coamunity .:onumicS 3csmont & Associates Seaway & Associates 1.5 aernazza Kolfei Karx ;.; B:A 1:0nomics/McGuire/Gruer, Leventhal & Company 0,5 J U L-•1 9:-9 1 P R I 1 5 3 1 C 0 N T.R A C 0:G T A C 0 U M T Y P - 0 2 CONTRA COSTA COUNTY COMMUNITY DEVELOPMENT DEPARTMENT DATE: July 19, 1991 TO: Internal Operations Committee Supervisor Robert I. Schroder Supervisorright McPeak FROM: Jim K Dep Director, elopment SUBJECT: SU AL REPORT ON HOUSING TRUST FUND On July 17, 1991,a meeting was held with the four consultants selected to submit a proposal for the housi ig trust fund study. The purpose of this session was to provide a common understanding of the required scope of work for this project,including: the identification and evaluation of alternative revenue sources for the housing trust fund, and the development of recommendations concerning appropriate implernentation strategies and an administrative structure for the fund. As a preliminary step to performing these work elements, the consultants strongly recommended that the Housing Trust. Fund Task Force assess low and moderate income housing neec s in the County, and develop a consensus on these needs and resultant priorities. The housing priorities would then be used to focus the evaluation of attemative revenue sources an those which are reasonably likely to be of an appropriate magnitude and legally availatde for the desired purposes. Staff concurs with this recommendation. If the Committee elects to follow this approach, staff would prepare a summary of low and moderate income housing needs in Contra Costa for use by the Task Force in developing a consensus on priorities. Assuming the Task.Force meets monthly,this approach will result in the following estimated schedule: Septeriber - Introductory Task Force Meeting, initial discussion of issues. Send Request for Proposal to four competing consultants. Octolm r - Task Force discussion of housing needs, priorities. Consultants submit.proposals. November - Task Force development of consensus on priorities. Select consultant, enter into contract. Januar - Consultant evaluates potential revenue sources, alternative March administrative structures and implementation strategies for Housing Trust Fund; meets with Task force to report progress, present results, discuss issues. ,TUL--. 1 9 91 FR I 1 5 : 32 CONTRA i CiOSTA iCOIJNTY P �.iO3 laternal Operations Committee July 19, 19S 1 Page Z April , May - Consultant works with Task Force to develop consensus on Trust Fund revenue sources, structure and implementation strategy. June Task Force develops recommendations for presentation to Board of Supervisors,Consultant prepares draft final report for approval by Task Force. JKM4:se K 1:%KTFI08.