There is hereby established a Sacramento County Low Income Housing Fund ("Fund") by the Office of the County Auditor — Controller in the County Treasury. The Fund shall be a special interest — bearing trust fund. The Fund shall receive all monies contributed pursuant to Section 16.89.500. The Fund may receive monies from other sources.
(SCC 0801 § 1, 1990; SCC 1686 § 4, 2022; SCC 1748, 1/7/2025)
Monies deposited in the Fund shall be used to increase and improve the supply of housing units affordable to households of low incomes. Monies placed in this fund shall be held in trust until disbursed as provided in Section 16.89.315. Monies may also be used to cover reasonable administrative expense not reimbursed through processing fees. No portion of the Fund may be diverted to other purposes by way of loan or otherwise.
(SCC 0801 § 1, 1990; SCC 1686 § 4, 2022; SCC 1748, 1/7/2025)
This fund shall be administered by the Housing Administrator who shall have the authority to govern the Fund consistent with this chapter and to prescribe procedures to carry out these purposes, subject to Board of Supervisors approval by resolution.
(SCC 0801 § 1, 1990; SCC 1686 § 4, 2022; SCC 1748, 1/7/2025)
Monies in the Fund shall be used in accordance with the adopted Housing Element of the County General Plan, the Housing Assistance Plan Program and Financing Strategy, (dated June 6, 1988) and the criteria in Section 16.89.320 to construct, rehabilitate, subsidize, or assist other governmental entities, private organizations or individuals in the construction of low income housing units. Monies in the Fund may be disbursed, hypothecated, collateralized, or otherwise employed for these purposes from time to time as the Housing Administrator so determines is appropriate to accomplish the purposes of the Fund, with concurrence from the Deputy County Executive of the Community Services Agency or his or her designee. These uses include, but are not limited to, assistance to housing development corporations, equity participation loans, grants, pre-home ownership co-investment, pre-development loan funds, participation leases, or other public/private partnership arrangements, construction loans or permanent financings. The Funds may be extended for the benefit of both rental or owner occupied housing.
(SCC 0801 § 1, 1990; SCC 1686 § 4, 2022; SCC 1748, 1/7/2025)
To the extent possible, the Housing Administrator shall use the Housing Trust Fund monies to affirmatively further fair housing. The Housing Administrator, with concurrence from the Deputy County Executive of the Community Services Agency or his or her designee, shall give priority to funding low income housing units in areas: (1) experiencing overpayment, overcrowding and displacement risk; and (2) identified as moderate, high, and highest resource.
(SCC 0801 § 1, 1990; SCC 1686 § 4, 2022; SCC 1748, 1/7/2025)
A. 
Commencing one year after the effective date of this chapter, and annually thereafter, the Housing Administrator and Planning Director shall report to the Board on the status of the Fund.
B. 
The report shall include: (1) a statement of income to the Fund from all sources and a statement of expenses and disbursements, and other uses of the Fund; (2) a statement of the number of low income housing units constructed or assisted during that year and the amount of such assistance; (3) an evaluation of the efficiency and effectiveness of this chapter in mitigating the County's shortage of low income housing available to employees at the non-residential construction subject to this chapter; (4) recommendations of any changes to this chapter necessary to carry out its purposes, including any adjustments necessary to the fee (beyond the annual revisions done pursuant to Section 16.89.715(b)) appropriate in light of changes in the supply of low income housing, the cost of housing, the characteristics of employment, or other factors. Any such recommended changes in fee levels or coverage shall be accompanied by a supplemental nexus report. This report shall contain the findings required by Government Code Section 66001(d).
(SCC 0801 § 1, 1990; SCC 1686 § 4, 2022; SCC 1748, 1/7/2025)