HomeMy WebLinkAboutOrange County Housing Finance Trust Update City of Huntington Beach
File #: 21-699 MEETING DATE: 9/21/2021
Orange County Housing Finance Trust Update
City of Huntington Beach Page 1 of 1 Printed on 9/15/2021
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46by /21/2021
HousingOrange
Coun Trustty Finance
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HUNTINGTON BEACH
CITY COUNCIL PRESENTATION
SEPTEMBER 21 , 2021
OCHFT.org
OCHFT OVERVIEW
Created in March 2019.
Joint Powers Authority OPA) formed between the County
of Orange and a majority of cities in the county.
Finance the development affordable housing
Tvr n. of one Ovnge County Houung Tn..won o1 m O' Canty tb,m�France
finance Trust is to iVen(Iben [be Trust n responE ro M numaatarw cows of
convrumues in Orange County bs(nanong aO"1ec"s""' by 'd.." in! kM,
rM deVebpment d ~dk nou abung For d"c +J convlua m dte comwcton d 1.7Oo
parmwnt suVVat^'a now^[ww W wwY to
nomekss AM and a iwne Nat ++ convMc<. m +mt�m+i
hml�cs alFwasW nan+y uw A 2025
COMMUNICATION
1
AGwAo bm
9/21/2021
ACCOMPLISHMENTS
a 0
23 cones and the County 4 ® � ,
Alp
5-year strategic plan.updated annually
$20 million in funding ® - a
13 projects totaling 901 affordable housing units
Website with administrative and project related P1 XCI\I l♦
information
Outreach to developers.cities.service providers
Costa Mesa
ACCOMPLISHMENTS
Announced Notices of Funding Availability (NOFAs) in 2020 and 2021
2020 Funds Ava lable:$11.5 Mdhon
2021 Funds Available-.S 11.0 Million
Committed funding to a total of 13 project 7 in 2020 and 6 in 2021.
2020 FundsAwarded:S 10.16S 360(466 units)
2021 FundsAwirded S10.192.730(434unicsl
Applied for and awarded$4,21 5,360 in 2020 from HCD for capital and administrative
funding through the Local Housing Trust Fund program.
Applied for and awarded $600.000 from OCCOG for their Regional Early Action Plan
(REAP)grant for admimstrat funding.
Applied for V iC(, 'JuC in 2021 from HCD for capital and administrative funding through
the Local Housing Trust Fund program,awaiting award.
2
9/21/2021
WWW.00HFT.ORG
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2021 FUNDING SOURCES
Administrative Funding Capital Funding
County o/Orange General Fund- County of Orange General Fund-
$200.0001year $1.000.000/year
Local Housing Trust Fund(LHTF)Program Mental Health Services Act(MHSA)-
-S105.000/year $4.500.000/year
Regional Early Action Planning(REAP)Grant- Local Housing Trust Fund(LHTFl Program-
-$310.000/year $4.750,000/year
City Member Contributions-$0/year Total Capital Budget:-$10.25 Million
Total Administrative Budget-$61 5.000
3
9/21/2021
LOOKING TO THE FUTURE
Expand Trust membership to all 34 cities in the county
Receive additional funding through State budget allocation
Develop sources of private donations for affordable and workforce
housing
2.700 new permanent supportive housing units by 2025
Work with other stakeholders in Orange County to create more
regional collaborative opportunities to address the housing crisis and
homelessness.
r
Orange
Housing
CountyFinance
HUNTINGTON BEACH
CITY COUNCIL PRESENTATION
SEPTEMBER 21 , 2021
OCHFT.org
4
9/21/2021
Orange Housing
CountyFinance
HUNTINGTON BEACH
CITY COUNCIL PRESENTATION
SEPTEMBER 21 . 2021
OCHFT.org
OCHFT OVERVIEW
Created in March 2019.
Joint Powers Authority UPA) formed between the County
of Orange and a majority of cities in the county.
Finance the development affordable housing
The :»:ss.00 of the Orange County Nouvng If".n¢m"1
F.rarce Trust :s to strengthen the T—r „ . u w he
,o n:ve; :n Orange County by financing �,— nr a ."P"^i
a char mv,ewr... 0.nun- , ww1t!ro
the of .%,dbk houvng for
0ltii and wure ludi� rhu! ws [ lAee r. !o.,Nroru
farvlies ." twus,e 2W5
1
9/21/2021
ACCOMPLISHMENTS
00900
23 cities and the County
5-year strategic plan,updated annually ® i
$20 million in funding
13 projects totaling 901 affordable housing units
r'7 v
Webtrte with administrative and protect related
information
Outreach to developers.citiservicees,service providers
Cavla C92
ACCOMPLISHMENTS
Announced Notices of Funding Availability (NOFAs) in 2020 and 2021.
2020 Funds Available:$1 1 5 Mdhon
2021 Funds Available:$I 1 0 Mdhon
Committed funding to a total of 13 project.7 in 2020 and 6 in 2021.
2020 Funds Awarded:$10.165.360(166 units)
2021 Funds Awarded:$10.192.730(434 units)
Applied for and awarded$4,215,360 in 2020 from HCD for capital and administrative
funding through the Local Housing Trust Fund program.
Applied for and awarded$600.000 from OCCOG for their Regional Early Action Plan
(REAP)grant for administrative funding.
Applied for $S 000.000 in 2021 from HCD for capital and administrative funding through
the Local Housing Trust Fund program.awaiting award.
2
9/21/2021
WWW.00HFT.ORG
-�j
C
r raon...•.r�,.«.
2021 FUNDING SOURCES
Administrative Funding Capital Funding
County of Orange General Fund - County of Orange General Fund-
$200.000/year S1.000,000/year
Local Housing Trust Fund(LHTF)Program- Mental Health Services Act(MHSA)-
-$1 05.00Wyear $4.500.000/year
Regional Earty Acoon Planning(REAP)Grant- Local Housing Trust Furl(LHTF)Program-
-$310.000/year $4,I50.000/year
CGty Member Contributions�$Oty a Total Capital Budget-$10.25 Mdbon
Total Admmistratwe Budget-161 5,000
3
9/21/2021
LOOKING TO THE FUTURE
Expand Trust membership to all 34 cities in the county
Receive additional funding through State budget allocation
Develop sources of private donations for affordable and workforce
housing
2.700 new permanent supportive housing units by 2025
Work with other stakeholders in Orange County to create more
regional collaborative opportunities to address the housing crisis and
homelessness.
1
HUNTINGTON BEACH
CITY COUNCIL PRESENTATION
SEPTEMBER 21 . 2021
OCHFT.org
4