CC - Item 3C - Presentation Update by the San Gabriel Valley Council of Governments on the Regional Housing Trust Affordable and Homeless Housing in the San Gabriel ValleySGVRHT
Updates and Accomplishments
April 2022
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SGVRHT Overview
The San Gabriel Valley Regional
Housing Trust (SGVRHT) is a Joint
Powers Authority formed by SB 751
(Rubio) to fund and finance the
planning and construction of
affordable and homeless housing.
SGVRHT is able to receive and
leverage public and private financing.
22 cities have joined the SGVRHT
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SGVRHT Board of Directors
Chair, Jed Leano,
City of
Claremont
Vice Chair, Becky
Shevlin, City of
Monrovia
Gary Boyer, City
of Glendora Adele Andrade-
Stadler, City of
Alhambra
Maria Morales,
City of El Monte
Margaret Finlay,
City of Duarte
Carol Averell,
Housing Expert
Benita DeFrank,
Housing Expert
Patty Cortez,
City of Covina
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Capital Funding Sources
The SGVRHT received a $20 million earmark in the FY 21-22 State Budget
▪Earmark priorities were adopted by the SGVRHT board in September 2021
1.Pipeline project funding-$8 million
2.Revolving loan funding-$8 million
3.Homeless Housing Pilot Programs-$4 million
Local Housing Trust Fund
Competitive State 1:1 matching source for affordable housing development.
1.2020 LHTF award-$1 million, 2 projects (Claremont, Pomona) totaling 71 units
2.2021 LHTF award-$1.1 million, 2 projects (Pomona, Alhambra) totaling 175 units
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SGVRHT Pipeline Funding Awards
City Project Name SGVRHT Funding #of units
Claremont Baseline Road $554,750 15
Pomona West Mission $1,350,000 56
Alhambra Mariposa $1,000,000 50
Pomona East Holt $1,000,000 125
Baldwin Park Vista del Monte $500,000 53
El Monte 11730 Ramona $1,560,000 39
Pomona Prisma Artist Lofts $2,000,000 75
Claremont Harrison Avenue $1,280,000 32
Alhambra Chapel $1,760,000 44
Montebello 6th Street Grand $700,000 63
Total $11,704,750 552
10 projects
Average per unit investment:
$21,204
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Project Renderings
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Revolving Loan Fund
The Revolving Loan Fund (RLF) will provide access to capital short term for
predevelopment, and construction loans
Creation of an RLF was a recommendation from the SGVRHT’s strategic plan
Member citites identified the need for early capital
The SGVRHT allocated $8 million in State Earmark funds to start the RLF. Loan
proceeds and repayments will be available to lend to new projects in perpetuity.
Consultant will host stakeholder forums during the formation of the RLF guidelines
First round of projects must close financing by May 30, 2023.
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Homeless Housing Pilot-tiny homes
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Additional Homeless Housing Pilot Programs
Provide a homeless housing unit/shelter
bed for a minimum of 12 months;
Maximum funding of $25,000 per bed/unit
operated for 2 years or more; funding will
be prorated based on program duration;
minimum term of 1 year
Funding must be expended by May 15,
2023
$1.25 million was allocated in December
2021 to an adaptive reuse project in
Baldwin Park (right) to develop 50 beds of
homeless housing
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Housing Planning Actitivies
●Surplus land inventory:Establish an inventory of
publicly and privately-owned sites that could
potentially serve as sites for affordable and/or
homeless housing;Develop a webpage to share the
inventory data with city staff and developers to
facilitate development opportunities
●Land Trust Study:Determine the feasibility of creating
a San Gabriel Valley Regional Land Trust and the best
formation and governance structure for the entity
●Affordable Housing Incubator:Provide member cities
with technical assistance in below disciplines:
•Financial Analysis &Technical Support;
•Real Estate &Land Acquisition Support;
•Land Use and Environmental Analysis;
•Public Outreach &Engagement;and
•Grant Writing.10
SGVRHT Project Support
Technical Assistance
Affordable Housing
Incubator
Pilot programs
Predevelopment
Revolving loan fund
for acquisition and
predevelopment
capital
Regional Land Trust
Pipeline Funding
Construction and
permanent financing
for affordable
housing
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Questions?
www.sgvrht.org
bacevedo@sgrvht.org
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