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City of San Leandro <br />Meeting Date: June 17, 2013 <br />Resolution - Council <br />Agenda Section:File Number:13-194 CONSENT CALENDAR <br />Agenda Number:8.B. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:City Council <br />FINANCE REVIEW:Not Applicable <br />TITLE:ADOPT: Resolution Supporting Senate Bill 391 [DeSaulnier] to Enact the <br />California Homes and Jobs Act of 2013 (establishes funding dedicated to <br />affordable housing development and programs by imposing a $75 recording <br />fee on real estate documents) <br />WHEREAS, families continue to face a housing crisis as mortgages remain out of reach, <br />credit standards have tightened, and the foreclosure crisis has pushed more people into a rental <br />market, leading to record-setting increases; and <br />WHEREAS, California needs to get building again to create jobs and build homes for those in <br />need, including families with children, seniors, veterans, and people with disabilities; and <br />WHEREAS, the City has recently benefitted from investment in affordable homes from the <br />successful state bond Proposition 1C, which has directed nearly $22 million in state investment to a <br />proposed 200 unit affordable rental housing development by the nonprofit BRIDGE Housing <br />Corporation and will help BRIDGE leverage over $25 million in federal, local and private dollars; and <br />WHEREAS, with funds from successful state housing bonds (Propositions 46 and 1C) <br />exhausted and the complete elimination of redevelopment, the availability of state dollars that <br />leverage federal and local funds and private investment is the lowest it has been in years, <br />threatening housing production and the jobs that go with it; and <br />WHEREAS, SB 391, the California Homes and Jobs Act of 2013, will create a stable funding <br />source for investment in homes and jobs; and <br />WHEREAS, SB 391 would generate an estimated $500 million in state investment annually <br />and leverage an additional $2.78 billion in federal and local funding and bank loans and deploy these <br />Page 1 City of San Leandro Printed on 6/11/2013