TO: Board of Supervisors
FROM: Ryan J. Alsop, County Executive Officer
REPORT BY: Jennifer Palmer, Director of Housing & Homeless Services
SUBJECT: Professional Services Agreement No. 240332B with the Bay Area Housing Finance Authority for the Older Adult Rental Assistance Pilot Program.
RECOMMENDATION
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Approve and authorize Revenue Agreement No. 240332B with the Bay Area Housing Finance Authority (BAHFA) for $5,000,000 for the term April 1, 2024 through June 30, 2028 and a related Budget Amendment for rental assistance support the remainder of the current fiscal year. (Fiscal Impact: $5,000,000 revenue; Affordable Housing Fund, Housing Stabilization Subdivision; Not Budgeted; Discretionary)
[4/5 vote required]
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BACKGROUND
The Bay Area Housing Finance Authority (BAHFA) was created pursuant to the San Francisco Bay Area Regional Housing Finance Act (Govt Code 64500, et seq.) ("the Act") to raise, administer, and allocate funding and provide technical assistance at a regional level for tenant protection, affordable housing preservation, and new affordable housing production. Pursuant to Government Code 64520(j), BAHFA utilizes staff from the Metropolitan Transportation Commission.
The Act authorizes BAHFA to provide rental assistance for low-income residents of the Bay Area as part of its central mandate to protect vulnerable residents from displacement and homelessness in the Bay Area. On May 24, 2023, the MTC adopted Resolution 4578 granting $5,000,000 to BAHFA to establish a new Rental Assistance Program to prevent homelessness. BAHFA then adopted Resolution 0030 on June 28, 2023, to authorize the use of these funds to create an Older Adult Rental Assistance Pilot Program.
On August 15, 2023, BAHFA released a request for proposals (RFP), seeking an eligible entity to finalize program design and administer an Older Adult Rental Assistance Pilot Program (Program) in one or more counties of the nine-county Bay Area Region. The Program will provide ...
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