Today's Law As Amended


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SB-490 Housing acquisition and rehabilitation: technical assistance.(2021-2022)



As Amends the Law Today


SECTION 1.

 Chapter 8.4 (commencing with Section 50709) is added to Part 2 of Division 31 of the Health and Safety Code, to read:

CHAPTER  8.4. Housing Acquisition and Rehabilitation Technical Assistance Program
50709.
 This chapter shall be known, and may be cited as, the Housing Acquisition and Rehabilitation Technical Assistance Program.
50709.1.
 For purposes of this chapter:
(a) “Acquisition-rehabilitation project” means a project to acquire and preserve unsubsidized housing units and attaching long-term affordability restrictions on the housing units, while safeguarding against the displacement of current residents.
(b) “Department” means the Department of Housing and Community Development.
(c) “Program” means the Housing Acquisition and Rehabilitation Technical Assistance Program established pursuant to Section 50709.2.
(d) “Qualified entity” means an entity that conducts acquisition-rehabilitation projects including, but not limited to, any of the following:
(1) An eligible nonprofit corporation, including affordable housing developers, community development corporations, and community-based organizations.
(2) Community land trusts, as defined in clause (ii) of subparagraph (C) of paragraph (11) of subdivision (a) of Section 402.1 of the Revenue and Taxation Code.
(3) Public housing authorities.
(4) Nonprofit, limited-equity, or workforce housing cooperatives.
(5) Resident associations or organizations.
(6) Local and regional government agencies administering acquisition-rehabilitation project funding programs.
50709.2.
 (a) (1) Upon appropriation by the Legislature, the Housing Acquisition and Rehabilitation Technical Assistance Program shall be established for the purpose of providing technical assistance to qualified entities.
(2) The department shall develop, implement, and administer the program pursuant to this chapter.
(b) The Housing Acquisition and Rehabilitation Technical Assistance Fund is created in the State Treasury. Upon appropriation by the Legislature, the money in the fund shall be allocated to the department to develop, implement, and administer the program.
50709.3.
 (a) The department shall develop best practices for the development and ongoing operation of acquisition-rehabilitation projects.
(b) The program shall support qualified entities in navigating the requirements and processes to apply for acquisition-rehabilitation project funding.
(c) The department shall develop technical assistance tools including, but not limited to, all of the following:
(1) Training modules.
(2) Acquisition-rehabilitation specific financing templates and guidance, such as proformas and worksheets.
(3) Best practice guides for engaging tenants before and after property acquisition, managing safe, accessible rehabilitation of occupied buildings, facilitating resident ownership, and any other topic deemed appropriate by the department.
(d) The program shall support collaboration and peer-to-peer learning amongst qualified entities.
(e) The department shall contract with third-party consultants to assist with the development, implementation, and administration of the program. The department shall contract with consultants possessing specific areas of expertise, including, but not limited to:
(1) Resident engagement and education.
(2) Property assessment and due diligence.
(3) Affordable housing operations management.
(4) Acquisition-rehabilitation project financial assistance.
(5) Construction and property management.
(6) A spectrum of ownership and stewardship models, including rental housing, homeownership, community land trusts, limited-equity housing cooperatives, workforce housing cooperative trusts, and nonprofit affordable housing cooperatives.
(7) Capacity and experience in advancing racial equity.