To: Board of Supervisors
From: Supervisor Haschak and Supervisor Brown
Meeting Date: May 7, 2019
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Department Contact: |
Sarah Dukett |
Phone: |
463-4441 |
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Item Type: Consent Agenda |
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Time Allocated for Item: N/A |
Agenda Title:
title
Approval of Transmission of Letter of Support for Assembly Bill 437 (Wood) - Move-In Loan Program
(Sponsors: Supervisor Haschak and Supervisor Brown)
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Recommended Action/Motion:
recommendation
Approve transmission of letter of support for Assembly Bill 437 (Wood) - Move-In Loan Program; and authorize Chair to sign same.
End
Previous Board/Board Committee Actions:
Informational update regarding Assembly Bill (AB) 437 on April 23, 2019. No action was taken.
Summary of Request:
AB 437 would establish the Move-In Loan Program for the purpose of providing grants to eligible nonprofit organizations to be used to provide no-interest loans to eligible applicants to afford the security deposit and first month’s rent for a rental dwelling. Eligibility requirements for loan recipients would include a requirement that the income of the loan recipient is no greater than the area median income in which the rental dwelling is located.
There is a growing need for housing assistance for individuals that can meet the month-to-month needs of renting or owning a home, but the cost to get started is unattainable due to the rising cost of healthcare, student loan debt burden, stagnant wages, and other factors. This bill is one way to address the affordability of renting and provide an avenue to individuals to avoid homelessness by creating an interest free loan program that would cover the burdensome start-up cost associated with renting that can prevent individuals and families from securing rental housing.
AB 437 is consistent with the Livability section of the 2019 Legislative Platform support legislation and policy supporting affordable housing.
Alternative Action/Motion:
Do not approve letter and provide alternative direction
Supervisorial District: All
vote requirement: Majority
Supplemental Information Available Online At: N/A
Fiscal Details:
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source of funding: N/A |
budgeted in current f/y: N/A |
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current f/y cost: N/A |
if no, please describe: |
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annual recurring cost: M/A |
revenue agreement: N/A |
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budget clarification: N/A
Agreement/Resolution/Ordinance Approved by County Counsel: N/A
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CEO Liaison: Janelle Rau, Deputy CEO |
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CEO Review: Yes |
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CEO Comments:
FOR COB USE ONLY
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Executed By: Lindsey Dunham, Deputy Clerk I |
Final Status:Approved |
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Date: May 8, 2019 |
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