2002 AGN OCT 15 I12 - Laserfiche WebLink

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Item #12 CITY OF COLTON AGENDA REPORT FOR CITY COUNCIL MEETING OF OCTOBER 15, 2002 To: Honorable Mayor and Members of the City Council From: Kathy A. Kivley, Assistant to the City Manager Subject: Adopt Resolution for Yes on Proposition 46 th u ng & E erg n Shelter Trust Fund Act to address California's dire need for affordable housing Date: October 1, 2002 On September 26, 2002, the League of California Cities Grassroots Coordinator Nancy Cisneros sent the City an email requesting our support in the passage of Proposition 46, Housing & Emergency Shelter Trust Fund Act to address California's dire need for affordable housing on the November 2002 statewide ballot. If approved by the California voters on the November 2002 ballot, Proposition 46 finances $2.1 billion in affordable housing construction through a state bond (Fact Sheet attached). Proposition 46 is an important measure for all cities and counties as it provides a much needed reliable source of funding for to assist in meeting the states need for affordable housing. Proposition 46 addresses California's growing housing crisis financing housing construction increases to significantly meet the demands of California's growing population. The biggest gap in production is in affordable housing for lower income working families. The intent of the Proposition is to create permanently affordable rental units and enable more California families to purchase their own house. Additionally this Proposition provides housing assistance for farm worker families and creates funding to develop shelter bed days for homeless people. FINANCIAL IMPACT There are no financial impacts associated with the adoption of this Resolution. ENVIRONMENTAL IMPACT There are no environmental impacts associated with the adoption of this Resolution. Adopt the Resolution in support of Proposition 46 on the November 2002 statewide ballot. Attachments Resolution Proposition 46 Fact Sheet REVIEW TEANLONLYk City Attorney: Finance Director: City Manager: OTHER: