Prohousing enhanced infrastructure financing districts.

Plain English Breakdown

The bill text does not specify the exact details of the requirements for establishing PEIFDs or the amount of funding available through the Infrastructure Partnership Financing Program.

Prohousing Enhanced Infrastructure Financing Districts

This law allows cities or counties designated as prohousing to create special districts for financing housing projects and other community benefits, and it establishes a new program by the Department of Housing and Community Development to fund these projects.

What This Bill Does

• Allows cities or counties with prohousing status to set up special districts called Prohousing Enhanced Infrastructure Financing Districts (PEIFDs) if they meet certain requirements.
• Expands the definition of 'prohousing local policies' to include setting up PEIFDs, giving these areas extra points when applying for funding programs.
• Creates a new program called the Infrastructure Partnership Financing Program run by the Department of Housing and Community Development to provide loans or grants to qualifying housing projects in PEIFDs.

Who It Names or Affects

• Cities and counties that are designated as prohousing
• Housing developers who can apply for funding through the Infrastructure Partnership Financing Program

Terms To Know

Prohousing local policies

Local rules or plans that support affordable housing, which help cities and counties get special status from the state.

Infrastructure Partnership Financing Program

A new program by the Department of Housing and Community Development to give loans or grants for housing projects in designated areas.

Limits and Unknowns

• The bill does not specify how much funding will be available through the Infrastructure Partnership Financing Program.
• It is unclear what specific requirements cities or counties must meet to establish a Prohousing Enhanced Infrastructure Financing District.

Official Summary Text

SB 1003, as amended, Grayson.
Prohousing enhanced infrastructure financing
districts: Infrastructure Partnership Financing Program.
districts.
The Planning and Zoning law requires each planning agency to prepare and the legislative body of each county and city to adopt a comprehensive, long-term general plan for the physical development of the county or city that includes specified elements, including a housing element. The law requires the Department of Housing and Community Development to designate jurisdictions as prohousing, as specified. The law requires that jurisdictions that have adopted a housing element that has been found by the department to be in substantial compliance with specified requirements and that have been designated as prohousing based on their adoption of prohousing local policies, as defined, be awarded additional points or preference in the scoring of program applications for certain programs.
Existing law authorizes the legislative body of a city or county
to designate a proposed enhanced infrastructure financing district to finance public capital facilities or other specified projects of communitywide significance that provide significant benefits to the district or the surrounding community, including, among other things, the acquisition, construction, or rehabilitation of housing for persons of very low, low, and moderate income for rent or purchase, as specified. Existing law authorizes an infrastructure financing plan to contain a provision for the division of taxes levied upon taxable property in the area included within the district, and authorizes the public financing authority of the district to issue bonds, as provided.
This bill would authorize a city or county that is designated as prohousing to establish a prohousing enhanced infrastructure financing district if certain requirements are met, as specified. The bill would prescribe requirements applicable to those districts. The bill would expand the
definition of “prohousing local policies” for purposes of the above-described provisions to include the establishment of one of these districts, and would require that the jurisdiction that established, and projects located within, a district receive enhanced points or preference than the baseline provided to other prohousing jurisdictions.
This bill would establish the Infrastructure Partnership Financing Program, to be administered by the Department of Housing and Community Development, and authorize prohousing enhanced infrastructure financing districts to apply for funding from the program, as specified. Upon appropriation, the bill would require the department to provide loans or grants to applicants for qualifying housing developments, as defined and specified. The bill would require the department to adopt
emergency regulations to implement the program, as specified.

Current Bill Text

Download Bill PDF