Affordable housing authorities.

Existing law authorizes a city, county, or city and county to adopt a resolution creating an affordable housing authority with powers limited to providing low- and moderate-income housing and affordable workforce housing, as provided, by means of tax increment financing. Existing law defines various terms for these purposes. This bill would additionally define the terms "authorizing resolution" and "property tax increment" for these purposes. The bill would additionally revise these provisions to limit the authority to providing low- and moderate-income housing and affordable housing, as specified. Existing law sets forth the composition of the governing board of an authority created pursuant to these provisions and requires the governing board to be an odd number with at least 5 or 7 members, at least 3 of which are required to be appointed by the legislative body of the city or county, as specified. This bill would, in the case of an authority created by a city and county, require the governing board to include appointments made by the mayor in the same number as are appointed by the legislative body of the city and county, as specified. Existing law authorizes specified local entities to adopt a resolution to provide property tax increment revenues to the authority. Existing law requires that housing funds expended by an authority be spent in proportion to the share of the regional housing need allocated to the city, county, or city and county for income categories for low, very low, and moderate-income housing. This bill would require the resolution provision for receipt of property tax increment to become effective in the property tax year that begins after the December 1 immediately following the adoption of a resolution to provide property tax revenues to the authority. The bill would additionally authorize the repeal of the resolution by giving the county auditor-controller at least 90 days' notice prior to the end of the current fiscal year, as specified. The bill would establish alternative purposes for which housing funds may be spent, including expending all housing funds for the development of very low income housing or for one or more activities relating to the rehabilitation, expansion, or construction of emergency shelters, supportive housing, or transitional housing, or a combination of that development and one or more of those activities. The bill would also require the county auditor-controller to deduct any costs incurred by the county in administering these provisions, prior to distributing property tax increment to the authority. Existing law additionally authorizes specified local entities to adopt a resolution allocating other tax revenues to the authority, subject to certain requirements. This bill would authorize the repeal of this resolution, as specified. Existing law authorizes an authority to take specified actions, including issuing bonds in conformity with provisions governing the issuance of general obligation bonds. This bill would additionally authorize an authority to issue bonds in conformity with the Housing Authorities Law and to finance water, sewer, or other public infrastructure necessary to support the development of affordable housing. Existing law requires the authority to contract for an independent audit every 5 years beginning in the calendar year in which the authority has allocated a cumulative total of more than $1,000,000 in property tax revenues or other revenues, including any proceeds of a debt issuance, as specified. This bill would instead require an authority to contract for an independent audit commencing in the calendar year in which the authority has been allocated a cumulative total of more than $1,000,000 in revenues, including any proceeds of a debt issuance, and annually thereafter. The bill would additionally require any proceeding to attack, review, set aside, void, or annul the creation of an authority, the adoption of an affordable housing plan, the allocation of tax revenues to an authority, or the issuance of bonds by an authority to be commenced within 30 days of the enactment of the resolution authorizing the action.