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Adoption of Resolution to Join the Orange County Housing Finance Trust <br />June 4, 2019 <br />Page 5 <br />If the City joins the JPA and the Trust, what are the next steps? The County of Orange has <br />taken the first step to become a member of the Trust by Board action on March 12, 2019. As <br />additional cities join, the City Selection Committee will appoint the City representatives to the <br />Trust's governing board. <br />As of May 20, 2019, the following cities have joined the Trust: <br />Garden Grove <br />Orange <br />Costa Mesa <br />Buena Park <br />Newport Beach <br />Mission Viejo <br />Tustin <br />Laguna Niguel <br />Fountain Valley <br />Anaheim <br />Fullerton <br />San Juan Capistrano <br />Once the Governing Board is named, an initial meeting of the Governing Board — to which any <br />Trust member is invited, as will members of the public — to direct the start of operations. The <br />County of Orange has pledged that County staff will assist in staffing the Trust for the first year of <br />the Trust's operations. <br />Our city, if it joins, would participate in the initial meeting(s) where staffing, budget, and State <br />bond and other funding approachs would be developed. It is envisioned that the first <br />applications for project funding may come before the Trust in the Fall of 2019. <br />In conclusion, staff recommends that the City Council adopt the attached resolution authorizing <br />the Mayor to execute the Joint Powers Agreement, and therefore becoming a member of the <br />Orange County Housing Finance Trust. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal # 5 - Community Health, Livability, <br />Engagement & Sustainability, Objective # 3 (Facilitate diverse housing opportunities and support <br />efforts to preserve and improve the livability of Santa Ana neighborhoods), Strategy C (Provide <br />that Santa Ana residents, employees, artists and veterans receive priority for affordable housing <br />created under the City's Housing Opportunity Ordinance or with City funding to the extent allowed <br />under state law). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this item in the current FY 2018-19. There will also be <br />no budgetary impact in FY 2019-20, the first full year of the Trust operations, as the County of <br />Orange will provide funds for the Trust's staffing costs during the first year. The Trust Board may <br />eventually ask for City pro-rata support of any administrative activities should the State, County, <br />or other funds not appropriately cover these expenses. <br />55C-5 <br />