PART 1. Authority Formation [62500. - 62531.]

Part 1 added by Stats. 2024, Ch. 767, Sec. 1.

§§ 62500–62531 · 17 sections

1. CHAPTER 1. General Provisions §§ 62500–62503 · 3 sections

   • § 62500 This title shall be known, and may be cited, as the Regional Housing Finance Act.
   • § 62502 For purposes of this title: (a) “Affordable housing” means housing that is subject to an affordability restriction or equity sharing agreement with a public…
   • § 62503 The Legislature finds and declares that providing a regional financing mechanism for affordable housing production and preservation throughout the state is a…
2. CHAPTER 2. Governing Structure §§ 62505–62510 · 7 sections

   • § 62505 (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…
   • § 62505.1 An entity that is located within the jurisdiction of the Bay Area Housing Finance Authority established pursuant to Section 64510 or the Los Angeles County…
   • § 62506 (a) An authority shall be governed by a board of directors consisting of a minimum of three directors. All directors shall be elected officials representing…
   • § 62507 (a) The authority board may make and enforce rules and regulations necessary for governing the authority, the preservation of order, and the transaction of…
   • § 62508 (a) The authority board shall hold its first meeting at a time and place within the jurisdiction of the local governments that established the authority. (b)…
   • § 62509 Five years after the voters approve an initial ballot measure pursuant to Section 62521, the authority shall review the implementation of the measure. The…
   • § 62510 (a) (1) The board shall form an advisory committee with knowledge and experience in the areas of affordable housing finance, development, and management,…
3. CHAPTER 3. Authority Powers §§ 62520–62524 · 5 sections

   • § 62520 In implementing this title, an authority may do all of the following: (a) Place one measure per election on the ballot to raise revenue and allocate funds…
   • § 62521 (a) If the authority proposes a measure pursuant to Part 2 (commencing with Section 62540) that will generate revenues and that requires voter approval…
   • § 62522 An authority shall only have the power to exercise the land use authority and set development parameters as provided in Section 62520 if the authority includes…
   • § 62523 An authority shall not acquire property by eminent domain.
   • § 62524 Actions taken by an authority to raise, administer, or allocate funding for affordable housing preservation, new affordable housing production, or to provide…
4. CHAPTER 4. Financial Provisions §§ 62530–62531 · 2 sections

   • § 62530 The authority board shall provide for regular audits of the authority’s accounts and records and shall maintain accounting records and shall report accounting…
   • § 62531 The authority board shall provide for annual financial reports. The authority board shall make copies of the annual financial reports available to the public.