R112711
City Council Meeting: July 14, 2020 Santa Monica, California
RESOLUTION NUMBER 11271 (CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF SANTA MONICA AFFIRMING
AUTHORIZATION FOR THE SUBMISSION OF AN APPLICATION FOR LOCAL HOUSING
TRUST FUND PROGRAM MATCHING GRANT FUNDING WITH ADDITIONAL INFORMATION
WHEREAS, the State of California (“State”), Department of Housing and Community
Development (“HCD”) is authorized to provide up to $57 million in awards to eligible applicants
under the Local Housing Trust Fund (“LHTF”) Program from the Veterans and Affordable Housing
Bond Act of 2018 (Proposition 1) (as described in Health and Safety Code (“HSC”) section
50842.2 et seq. (Chapter 365, Statues of 2017 (SB 3)); and
WHEREAS, HCD issued a Notice of Funding Availability (“NOFA”) dated April 30, 2020
under the LHTF Program; and
WHEREAS, the City of Santa Monica (“City” or “Applicant”) is a municipality and an eligible
Local Housing Trust Fund applying to the LHTF Program to finance and administer one or more
eligible activities using LHTF Program Funds; and
WHEREAS, HCD may evaluate applications and approve funding allocations for the LHTF
Program, subject to the terms and conditions of HSC section 50842.2, the LHTF Program
Guidelines, the NOFA, Program requirements, the Standard Agreement, and other related
contracts between HCD and LHTF award recipients; and
WHEREAS, on May 26, 2020, the City Council of the City of Santa Monica (“City Council”)
approved Resolution 11250 (CCS) authorizing the City Manager to execute the LHTF Program
Application and other documents related to the implementation thereof; and
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WHEREAS, on June 5, 2020, HCD notified subscribers of a newly released, revised
Resolution template for the LHTF Program, clarifying that an attachment summarizing how the
City will commit to using the LHTF Program Funds is required.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES
RESOLVE AS FOLLOWS:
SECTION 1. If Applicant receives an award of LHTF funds from HCD pursuant to the
above referenced LHTF NOFA, it represents and certifies that it will use all such funds on Eligible
Projects in a manner consistent and in compliance with all applicable state and federal statutes,
rules, regulations, and laws, including without limitation all rules and laws regarding the LHTF
Program, as well as any and all contracts Applicant may have with HCD.
SECTION 2. Applicant is hereby authorized and directed to apply for an LHTF award, in
an amount not to exceed the maximum application request of $5 million, and to act as the
manager in connection with HCD’s funds to Eligible Projects pursuant to the above-described
NOFA.
SECTION 3. Applicant hereby agrees to match on a dollar for dollar basis the LHTF award
pursuant to LHTF Guidelines Section 104 (“Matching Funds”) and to use Matching Funds for the
same Eligible Projects for which Program Funds are used, as required by HSC Section
50843.5(c).
SECTION 4. Pursuant to the Applicant’s certification in this resolution and the newly added
Attachment 1, the Program Funds and the Matching Funds will be expended only for Eligible
Projects and in accordance with all LHTF Program requirements, Program Guidelines, HSC
Section 50842.2, other rules and laws, as well as in a manner consistent and in compliance with
the Standard Agreement and other contracts between the Applicant and HCD.
SECTION 5. Applicant shall be subject to the terms and conditions as specified in the
Standard Agreement, HSC Section 50842.2, and LHTF Program Guidelines.
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SECTION 6. The City Council of the City of Santa Monica affirms, with the addition of
Attachment 1, its authorization for the City Manager to execute the LHTF Program Application,
the LHTF Standard Agreement, and any subsequent amendments or modifications thereto, as
well as any other documents which are related to the Program or the LHTF award to Applicant,
as HCD may deem appropriate.
SECTION 7. The City Clerk shall certify to the adoption of this Resolution, and thenceforth
and thereafter the same shall be in full force and effect.
APPROVED AS TO FORM:
GEORGE S. CARDONA
Interim City Attorney
Attachment 1: Local Housing Trust Fund Expenditure Plan
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City of Santa Monica Housing Division
Local Housing Trust Fund
Expenditure Plan
(Attachment 1)
The City of Santa Monica (“City”) commits to use Local Housing Trust Fund (“LHTF”) Program
Funds and Matching Funds as follows:
100% of Program Funds and Matching Funds received will be spent to provide
construction/permanent financing loans at simple interest rates of no higher than three
percent per annum with deferred payments based on residual receipts, for payment of
predevelopment costs, acquisition, construction, or rehabilitation of multifamily rental
housing serving Lower-Income (80% of Area Median Income (“AMI”)), Very Low-Income
(50% of AMI), and Extremely Low-Income Households (30% of AMI).
At least 30% of Program Funds and Matching Funds received will be spent on assistance
to Extremely Low-Income Households.
At least 75% of Program Funds and Matching Funds received will be spent on loans for
the new construction of multifamily rental housing developments with average household
income restrictions of no more than 60% of AMI.
No more than 5% of Program Funds and Matching Funds received will be spent on
administrative expenses.
All activities and projects funded by Santa Monica’s LHTF Program Funds and Matching Funds
will be located within the City. Matching Funds will be taken from the Redevelopment
Replacement Housing Trust Fund, for which the funding sources are:
a) transaction and use taxes approved by Measure GSH and
b) 80% of the loan repayments owed by the former Santa Monica Redevelopment Agency
to the City, which are dedicated and restricted for housing use solely by City action and
not by state or federal law.
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Adopted and approved this 14th day of July 2020.
__________________________
K e v i n M c K e o w n , M a y o r
I, Denise Anderson-Warren, City Clerk of the City of Santa Monica, do
hereby certify that Resolution No. 11271 (CCS) was duly adopted at a meeting
of the Santa Monica City Council held on the 14th day of July 2020, by the
following vote:
AYES: Councilmembers Davis, Himmelrich, Jara, McCowan, Winterer
Mayor Pro Tem O’Day, Mayor McKeown
NOES: None
ABSENT: None
A T T E S T :
_____________________________________
Denise Anderson-Warren, City Clerk
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