CA AB 1319

Title: Bay Area Housing Finance Authority: housing revenue.
Author: Buffy Wicks

Summary
AB 1319, Wicks. Bay Area Housing Finance Authority: housing revenue. (1) Existing law, the San Francisco Bay Area Regional Housing Finance Act, establishes the Bay Area Housing Finance Agency to raise, administer, and allocate funding for affordable housing in the San Francisco Bay area, as defined, and provide technical assistance at a regional level for tenant protection, affordable housing preservation, and new affordable housing production. Existing law requires the Bay Area Housing Finance Authority and executive board of the Association of Bay Area Governments to form an advisory committee composed of 9 representatives with knowledge and experience in the areas of affordable housing finance and development, tenant protection, and housing preservation.This bill would require the authority and executive board to form an advisory committee composed of at least 9 and no more than 11 representatives with knowledge and expertise in the areas of affordable housing finance, construction workforce, and development, tenant protection, and housing preservation.The act provides the authority with various powers, including the power to place a measure on the ballot to raise revenue and allocate funds throughout the San Francisco Bay area, apply for and receive grants or loans from public and private entities, incur and issue bonds and other indebtedness, and otherwise incur liabilities or obligations. The act authorizes the authority to allocate and deploy financing to cities, counties, other public agencies within the San Francisco Bay area and private affordable housing developers to finance affordable housing development, as specified.This bill would specify that the authority is limited to placing only one measure on the ballot per election. The bill would also authorize the authority to deploy financing to nonprofit corporations to finance affordable housing development, as specified.Existing law authorizes a city or county, or an agency created pursuant to a joint powers agreement, to issue revenue bonds to defray the costs of acquiring home mortgages or making loans to lending institutions in order to enable them to make home mortgages, and the costs of studies and surveys, insurance premiums, underwriting fees, legal, accounting and marketing services incurred in connection with the issuance and sale of bonds, as specified.This bill would authorize the authority to issue mortgage revenue bonds, pursuant to provisions described above; acquire, hold, develop, operate, and dispose of real property; and create one or more California limited liability companies of which the authority is the sole member.(2) The California Environmental Quality Act (CEQA) requires a lead agency, as defined, to prepare, or cause to be prepared, and certify the completion of an environmental impact report on a project that it proposes to carry out or approve that may have a significant effect on the environment or to adopt a negative declaration if it finds that the project will not have that effect. CEQA also requires a lead agency to prepare a mitigated negative declaration for a project that may have a significant effect on the environment if revisions in the project would avoid or mitigate that effect and there is no substantial evidence that the project, as revised, would have a significant effect on the environment.This bill would exempt from CEQA any actions taken by the authority to raise, administer, or allocate funding for tenant protection, affordable housing preservation, or new affordable housing production or to provide technical assistance consistent with the authority’s purpose.(3) Existing law authorizes the executive board of the authority to impose a commercial linkage fee, as defined, in an amount not to exceed ten dollars ($10) per square foot, within the San Francisco Bay area, as specified. Existing law requires the expenditures of proceeds from a commercial linkage fee be limited to affordable housing production, preservation,

Status
Enrolled and presented to the Governor at 3 p.m.

Bill Documents
CA AB 1319 - 09/11/23 - Enrolled
09/11/23 - CA AB 1319 (09/11/23 - Enrolled)