City of San Diego: County of Santa Clara: housing authority: middle-income housing projects.

The Housing Authorities Law authorizes a housing authority of a city or county to, among other things, prepare, carry out, acquire, lease, and operate housing projects and housing developments for persons of low income, as provided. That law grants powers to an authority relating to, among other things, the issuance of bonds. This bill would make findings and declarations relating to affordable housing. The bill, until January 1, 2022, would authorize a housing authority located in the City of San Diego or the County of Santa Clara to implement a pilot program to develop and finance a middle-income housing project, as defined, if the project receives gap financing, as defined. The bill would prohibit financial or other assistance from any public or private source, as specified, from being used to provide gap financing to units that will be occupied at or above market-rate rents. The bill would require any gap financing to be approved by the housing authority's legislative body, as provided, and would require the housing authority to provide a report to the Legislature, as specified. This bill would also make legislative findings and declarations as to the necessity of a special statute for the City of San Diego and the County of Santa Clara.