HomeMy WebLinkAboutMINUTES - 06051990 - 1.75 1 .0 5
TO: BOARD OF SUPERVISORS
FROM: Harvey E. Bragdon •:mf ��%'
Contra
Director of Community Development _ Ct.JJla
DATE: June 5, 1990 gas Com
TA C"UK ,
SUBJECT: Proposition 107
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND' JUSTIFICATION
RECOMMENDATIONS
Adopt position in support of Proposition 107: Housing and Homeless
Bond Act of 1990.
FISCAL IMPACT
None.
BACKGROUND/REASONS FOR RECOMMENDATIONS
In .1988 , the State Legislature created the Housing and Homeless
Assistance Bond Acts of 1988 and 1990. These two bills provided
for the placement of Proposition 84 on the 1988 statewide ballot
and the placement of Proposition 107 on the 1990 ballot.
Proposition 84 authorized $300 million in general obligation bonds
for construction of rental housing, construction of emergency
shelter beds, construction of family demonstration housing,
rehabilitation of substandard housing, funding farmworker housing,
and providing financing for first time homebuyers. Proposition 107
carries out the remainder of the Housing and Homeless Assist nce
Act.
CONTINUED ON ATTACHMENT: X YES SIGNATURE: /J
G�
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOPP ENDATI F BO COMM E
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON (j APPROVED AS RECOMMENDED _ OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development ATTESTED 5f/g90
CAO PHIL %ATCHELOR, CLERK OF
Auditor-Controller THE BOARD OF SUPERVISORS
,tounty Counsel AND COUNTY ADMINISTRATOR
BY �G�1.GfiG�, DEPUTY
Icor/vlp/prop107.bos
Proposition 107 would authorize the state to issue up to $150
million in general obligation bonds to be used by the Department of
Housing and Community Development (HUD) and the California Housing
and Finance Agency (CHFA) to support housing programs .for first
time home buyers, renters, and homeless persons. The bond funds
would be targeted toward the following programs:
Proposition 107 Fund Allocation
(in millions)
1. Rental Housing Construction $100
2 . Housing Rehabilitation and
Earthquake Safety 15
3 . Home Purchase Assistance for
First-Time Buyers 25
4 . Emergency Shelter for Homeless
Persons 10
Total $150
The Proposition will provide 2,612 new rental units, including 612
single room occupancy (SRO) units. Proposition funds also will
provide 5, 560 new emergency shelter beds. In addition to rental
housing, Proposition 107 will assist an estimated 1, 500 first-time
home buyers in obtaining sufficient financing to purchase a home.