California Housing Finance Agency.

Existing law establishes the California Housing Finance Authority, administered by a board of directors, whose primary purpose is to meet the housing needs of persons and families of low- or moderate-income. Existing law requires that the board establish the compensation of the executive director of the agency and other key exempt management, not to exceed a specified amount, and that the agency conduct salary surveys to determine the compensation. This bill would instead require the board to conduct the surveys. Existing law imposes various conflict-of-interest requirements, including that a board member with a financial interest in any matter before the board for a decision must disclose the interest as a matter of official public record and the board member is prohibited from attempting to influence, participate in deliberations concerning, or vote as to the interested matter. Existing law also prohibits an employee of the agency from being employed by, holding any paid official relation to, or having any financial interest in, any housing sponsor or any housing development financed or assisted by the agency. This bill would specify that the conflict-of-interest provision is effective notwithstanding a provision of law that prohibits certain officials from having a financial interest in a contract entered into by the official in his or her official capacity or by the body or board of which they are members. This bill would extend the prohibition against being employed by, having a paid relation to, or having a financial interest in a housing sponsor or affordable housing to an officer of the agency, except for a member of the board of directors who is not an employee of the agency. This bill would change the term "housing development" to "affordable housing" in these provisions.