80A - AFFORDABLE HOUSING POLICIES

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Affordable Housing Funds Policies and Procedures March 20, 2018 Page 2 On November 13, 2017, the draft Policies and Procedures was then presented to the Economic Development, Infrastructure, Budget and Technology (EDIBT) Committee. Following direction by the EDIBT Committee, staff held a Stakeholder Meeting on Tuesday, December 19, 2017. A total of 15 stakeholders attended the meeting. All of the stakeholders were in favor of the draft Policies and Procedures and appreciated the City's efforts to memorialize and adopt a fair and transparent process. A second draft of the Policies and Procedures was presented to the EDIBT Committee on January 8, 2018. In addition, staff researched what other cities are doing. Generally, larger cities issue RFPs for the allocation of their affordable housing funds and smaller cities allocate funds internally (e.g. "sole source awards'). Most cities do not have specific policies regarding the allocation of affordable housing funds (few exceptions include the City of Santa Monica and City of Los Angeles). On March 6, 2018, a draft of the Policies and Procedures was presented to City Council in a Work -Study Session. The draft Policies and Procedures have also been available on the City's website for the past three months for public review and comment. STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal # 4 Fiscal Sustainability, Objective # 1 (maintain a stable, efficient and transparent financial environment) and Goal # 5 - Community Health, Livability, Engagement & Sustainability, Objective # 3 (Facilitate diverse housing opportunities and support efforts to preserve and improve the livability of Santa Ana neighborhoods). FISCAL IMPACT There is no fiscal impact associated with this action. Robert M. ZurScl mi d Interim Execut irector Community Development Agency Exhibit: 1. Draft Affordable Housing Funds Policies and Procedures • I .