Two other bills making their way through the legislative process propose a different mechanism for raising funding for affordable housing. They are SB 1177 (Portantino) and SB 1444 (Allen).
SB 1177 (Portantino) would authorize the creation of a regional housing trust fund between the cities of Burbank, Glendale, and Pasadena by enabling them to enter into a Joint Powers Agreement to fund housing for lower- and moderate-income households and assist people facing homelessness. The JPA would have the authority to apply for and receive private and public funding allocations and to issue bonds for affordable housing development, among other activities.
SB 1444 (Allen) would enable the County of Los Angeles and cities within the jurisdiction of the South Bay Cities Council of Governments to form a South Bay Regional Housing Trust and enter into a joint powers agreement to fund housing for extremely low, very low, and low-income households and assist people facing homelessness. Like SB 1177, the JPA would have the authority to apply for and receive private and public funding allocations and to issue bonds for affordable housing development, among other activities.
All jurisdictions already have the right to create JPAs, but specific legislation naming specific geographies is perceived to make the case stronger at the local level for setting up the new entities. JPAs have typically been used to acquire existing property to preserve affordability, so this is a relatively broader use of a JPA that could present itself as a model. The Terner Center recently published a report on JPAs, summarized in our “Reports and Blogs” section.