TITLE
Recommendation to amend the Agreement for Services between the City of Long Beach and The Long Beach Housing Development Company; and authorize City Manager to encumber approximately $138,500,000 in current and future redevelopment housing set-aside to support affordable housing activities through Fiscal Year 21. (Citywide)
DISCUSSION
The Long Beach Housing Development Company (LBHDC) was reestablished by the City Council in January 1988 in order to plan, perform and assist in meeting the housing needs of the low- and moderate-income residents and to meet the specialized housing needs of senior citizens and disabled persons in the City of Long Beach. The LBHDC implements the affordable housing goals, policies and objectives of the City's Housing Element. The City is the only member of the LBHDC.
On November 15, 1989, the City and the LBHDC entered into an Agreement for Services whereby the City agreed to provide services and funding to the LBHDC in order for the LBHDC to carry out its mission. Specifically, the City agreed to provide all necessary City employees, facilities and other services of the City that the LBHDC needs. The City also agreed to fund the LBHDC's activities based on a request of the LBHDC's President of the estimated cost to support LBHDC's activities. In the past, the funding request came to the City as part of the annual budget process and the City Council approved the LBHDC's total annual budget.
Redevelopment housing set-aside is the main source of revenue in the City's Housing Development Fund, which funds the LBHDC's projects and required City support services.
As such, the LBHDC is the entity that accomplishes the Long Beach Redevelopment Agency's affordable housing production goals laid out in the State-mandated Affordable Housing Compliance Plan Five-Year Implementation Plan, the most recent of which is for the period October 1, 2010 to September 30, 2014. Because of this responsibility, the LBHDC has been active in negotia...
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