TO: Napa County Housing Commission
FROM: Jennifer Palmer, Director of Housing & Homeless Services
REPORT BY: Jennifer Palmer, Director of Housing & Homeless Services
SUBJECT: Affordable Housing Fund Investment Portfolio
RECOMMENDATION
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Director of Housing & Homeless Services requests the Housing Commissioners receive a report on the current state and scope of the Affordable Housing Fund Investment Portfolio.
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EXECUTIVE SUMMARY
Housing Commissioners requests a presentation on the current state and scope of the Affordable Housing Fund Investment Portfolio. Director of Housing & Homeless Service will present an overview of the programs, uses of funds and current loan portfolio.
ENVIRONMENTAL IMPACT
ENVIRONMENTAL DETERMINATION: The proposed action is not a project as defined by 14 California Code of Regulations 15378 (State CEQA Guidelines) and therefore CEQA is not applicable.
BACKGROUND AND DISCUSSION
The County of Napa Affordable Housing Fund Investment Portfolio includes programs, services and a loan portfolio funded by Affordable Housing Fees and Transient Occupancy Tax revenues.
Affordable Housing Fees
To mitigate the impact of nonresidential development on the need for affordable housing within its boundaries, the County has, since 1993, imposed commercial housing impact fees on nonresidential development projects. To implement the affordable housing goals adopted in the 2009 Housing Element Update, the Board of Supervisors adopted an updated affordable housing ordinance in 2010 that, among other things, authorized the imposition of housing fees for certain residential development projects to mitigate the impacts of such projects on the need for affordable housing in the County and continued to authorize the imposition of housing impact fees for nonresidential development. To ensure the housing fees adopted do not exceed the actual affordable housing impacts attributable to the development projects to which the fees relate, the County re...
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