Plain English Breakdown
The official source material does not provide specific details on the types or limits of housing projects, nor does it specify an effective date.
Santa Clara Valley Transportation Authority: Housing for Employees
This law allows the Santa Clara Valley Transportation Authority to purchase property and work with other public agencies to build rental housing or sell homes for its employees, as well as form partnerships to develop such projects.
What This Bill Does
- Allows VTA to purchase land for employee housing projects.
- Lets VTA accept money from public agencies to help pay for these housing projects.
- Permits VTA to work with other public agencies to build housing for employees.
- Enables VTA to form partnerships, like limited liability companies, to develop housing projects.
Who It Names or Affects
- Santa Clara Valley Transportation Authority (VTA) employees
- Public agencies that can provide funding or cooperation
Terms To Know
- Transit-oriented joint development project
- A project where transportation facilities and housing are built together near public transit.
- Limited liability company (LLC)
- A type of business partnership that limits personal financial responsibility for the company's debts.
Limits and Unknowns
- Does not specify how much money VTA can accept from public agencies.
- Does not detail what kind of housing projects are eligible beyond mentioning rental and for-sale homes.
- The bill does not state when it will take effect after being signed into law.