R11416City Council Meeting: May 10, 2022 Santa Monica, California
RESOLUTION NUMBER 11416 (CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF SANTA MONICA
AUTHORIZING THE SUBMISSION OF AN APPLICATION FOR LOCAL
HOUSING TRUST FUND PROGRAM MATCHING GRANT FUNDING
WHEREAS, the State of California (the "State"), Department of Housing and Community
Development (the "Department") is authorized to provide up to $57 million 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 section 50842.2 et seq. (Chapter
365, Statutes of 2017 (SB 3)) ("Program");
WHEREAS, the Department issued a Notice of Funding Availability ("NOFA") dated April
5, 2022, under the LHTF Program;
WHEREAS, the City is an eligible Local or Regional Housing Trust Fund applying to the
Program to administer one or more eligible activities using Program Funds;
WHEREAS, the Department may approve funding allocations for the LHTF Program,
subject to the terms and conditions of Health and Safety Code Section 50842.2, the LHTF
Program Guidelines, NOFA, Program requirements, the Standard Agreement and other related
contracts between the Department and LHTF award recipients;
NOW, THEREFORE, BE IT RESOLVED THAT:
SECTION 1. If the City of Santa Monica ("City") receives an award of LHTF funds from
the Department pursuant to the above referenced LHTF NOFA, it represents and certifies that it
will use all such funds on Eligible Projects in a manner consisten t 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 City may have
with the Department.
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SECTION 2. The City is hereby authorized to act as the manager in connection with the
Department's funds to Eligible Projects pursuant to the above-described Notice of Funding
Availability in an amount not to exceed $5,000,000 (the "LHTF Award").
SECTION 3. The City hereby agrees to match on a dollar-for-dollar basis the LHTF
Award pursuant to Guidelines Section 104, and the City hereby agrees to utilize matching funds
on a dollar-for-dollar basis for the same Eligible Project for which Program Funds are used, as
required by Health and Safety Code Section 50843.5(c).
SECTION 4. Pursuant to the City of Santa Monica Housing Division Local Housing Trust
Fund Expenditure Plan (Attachment 1) and the City's certification in this resolution, the LHTF
funds will be expended only for Eligible Projects and consistent with all program requirements.
SECTION 5. The City shall be subject to the terms and conditions as specified in the
Standard Agreement, Health and Safety Code Section 50842.2, and LHTF Program Guidelines.
SECTION 6. The City Manager is authorized 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 City, as
the Department 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:
_______________________
SUSAN COLA
Interim City Attorney
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Adopted and approved this 27th day of July 2021.
________________________________
Sue Himmelrich, Mayor
I, Denise Anderson-Warren, City Clerk of the City of Santa Monica, do hereby certify that
Resolution No. ##### (CCS) was duly adopted at a meeting of the Santa Monica City
Council held on the 10th day of May 2022, by the following vote:
AYES:
NOES:
ABSENT:
ATTEST:
________________________________
Denise Anderson-Warren, City Clerk
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Exhibit A
City of Santa Monica Housing and Human Services Division
Local Housing Trust Fund
Expenditure Plan
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.
• 100% 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 10th day of May 2022.
____________________________
Kristin McCowan, Mayor Pro Tem
I, Denise Anderson-Warren, City Clerk of the City of Santa Monica, do hereby
certify that Resolution No. 11416 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 10th day of May 2022, by the following vote:
AYES: Councilmembers Davis, Negrete, Brock, de la Torre
Mayor Pro Tem McCowan, Mayor Himmelrich
NOES: None
ABSENT: Councilmember Parra
ATTEST:
_____________________________________
Denise Anderson-Warren, City Clerk
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