§ 62505. — 62505. (Added by Stats. 2024, Ch. 767, Sec. 1.)

California § 62505.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Title 6.5.: TITLE 6.5. Regional Housing Finance Authorities
• Part 1.: PART 1. Authority Formation
• Ch. 2.: CHAPTER 2. Governing Structure

Text

(a)
(1)
Except as provided in Section 62505.1, two or more local governments may establish a regional housing authority pursuant to this title.
(2)
The authority shall be governed by a board established pursuant to Section 62506.
(b)
The authority shall be a separate legal entity from the local governments that establish the authority.
(c)
The formation and jurisdictional boundaries of the authority are not subject to the Cortese-Knox-Hertzberg Local Government Reorganization Act of 2000 (Division 3 (commencing with Section 56000) of Title 5).
(d)
An authority’s purpose is to raise, administer, and allocate funding and provide technical assistance at a regional level for affordable housing development, including new construction and the preservation of existing housing to serve a range of incomes and housing types, including rental and owner-occupied housing. It is the intent of the Legislature that an authority help the region accommodate and meet its existing and projected housing needs for extremely low, very low, low-, and moderate-income households, and further the objectives of subdivision (d) of Section 65584.

Legislative History

Added by Stats. 2024, Ch. 767, Sec. 1. (SB 440) Effective January 1, 2025.