City Council

CC 11. Adopt Resolution Authorizing Application for State of California Prohousing Incentive Program Funds Recommendation(s): 1. Adopt Resolution No.______, authorizing the submittal of an application to the California State Department of Housing and Community Development (HCD) for funding under the Prohousing Incentive Program (PIP); the execution of a standard agreement if selected for such funding and any amendments thereto; and any related documents necessary to participate in the Prohousing Incentive Program. 2. If funded, accept the Prohousing Incentive Program grant award funds, and appropriate said funds into a Prohousing Incentive Program Fund account number, to be created by Finance. 3. Authorize the City Manager, or their designee, to allocate any awarded funds—up to $1,140,000—in alignment with the Prohousing Incentive Program. 4. Find that this item is not a project pursuant to the California Environmental Quality Act. The PIP complements the Prohousing Designation Program by incentivizing jurisdictions that adopt Prohousing Policies to achieve a Prohousing Designation. Through this program, grants are offered to support a wide range of planning and implementation efforts focused on housing and community development. The program goal is to enable moderate-income households earning no more than 120 percent of Area Median Income (AMI), currently $127,900 per year for a family of four in Los Angeles County, to access affordable rental or ownership housing.