HomeMy WebLinkAboutResolution No. 18-7792-Supporting Nov 2018 Veterans and Affordable Housing Bond Act• • t
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
SUPPORTING THE NOVEMBER 2018 VETERANS AND AFFORDABLE
HOUSING BOND
WHEREAS, housing affordability is an urgent issue facing many communities in
California, where a majority of renters (3 million households) pay more than 30 percent of their
income toward rent and nearly one-third (over 1.5 million households) spend more than 50
percent of their income on rent; and
WHEREAS, "the housing crisis is a contributing factor to homelessness in our
communities; and
WHEREAS, California's homeownership rates are at the lowest point since the 1940'x;
and
WHEREAS, recent housing production levels are about half of pre -recession levels
(roughly 200,000 per year) and are far short of the state's projected housing need for 180,000
new homes per year; and
WHEREAS, the proceeds from the 2006 housing bond that helped create and preserve
affordable apartments, urban infill infrastructure, and single-family homes have been expended;
and
WHEREAS, even though federal funding for affordable housing comprises a significant
portion of California's resources to support affordable housing, federal spending has been on
the decline in recent years; and
WHEREAS, between 2003 and 2015, Community Development Block Grant (CDBG)
and HOME funds allocated to California by the U.S. Department of Housing and Urban
Development (HUD) to produce affordable housing units have declined by 51 percent and 66
percent respectively; and
WHEREAS, last year the Legislature passed and Governor Brown signed SB 3 (Beall),
which placed the $4 billion Veterans and Affordable Housing Bond -Act on the November 6,
2018 general election ballot; and
WHEREAS, the Veterans andAffordableHousing Bond Act will provide funding to
support multifamily housing, higher density housing near transit, infill infrastructure, farmworker
housing, first-time home buyer assistance, and veteran home loans;
NOW, •RE THE CITY COUNCIL OF OF DOWNEY DOES
RESOLVEHEREBY • •
SECTION 1. The City of Downey hereby supports the Veteransand Affordable Housing
Bond Act on the November 6, 2018 ballot to infuse much needed funding to support important
affordable housing projects and spur housing construction statewide; and
SECTION 2. The City of Downey hereby supports and can be listed as =a member of the
Affordable Housing Now coalition; and
SECTION 3. Staff is hereby direct to transmit a copy of this adopted resolution to the
League of California Cities.
RESOLUTION • `+
PAGE 2
SECTION 4. The City Clerk shall certify to the adoption of this Resolution:
APPROVED AND ADOPTED this 27th day of arch, 2018:
C/�
SE -AN ASHTON, Mayor
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of
the City of Downey at a regular meeting held on the 27th day of March, 2018 by the following
vote, to wit:
AYES:
Council Members:
Pacheco, Saab, Vasquez, Rodriguez, Mayor Ashton
NOES:
Council Member:
None.
ABSENT:
Council Member:
None.
ABSTAIN.-
Council Member:
None.