San Gabriel Valley
Regional Housing Trust
Since last year, the SGVCOG has been working with cities and stakeholders to explore the possibility of forming a San Gabriel Valley Regional Housing Trust Fund. A Regional Housing Trust Fund would create a vehicle for the region to receive and distribute funding to support the planning and construction of affordable housing and homeless housing in the San Gabriel Valley. These funds would be managed locally and would support projects that the cities are the best for the San Gabriel Valley cities and the Region.
At the request of the SGVCOG, State Senator Susan Rubio this year introduced legislation – Senate Bill 751 – that would allow San Gabriel Valley cities to form a regional joint powers authority to receive and disperse both public and private funding and financing for the planning and construction of affordable housing and homeless housing. The bill was approved by Governor Newsom in October 2019 and the Regional Housing Trust will be operational in early 2020.
How will the San Gabriel Valley Regional Housing Trust work?
The San Gabriel Valley Regional Housing Trust will be a joint powers authority that any city in the San Gabriel Valley can join. The Trust will be overseen by a Board of 7 elected officials from cities within the San Gabriel Valley and 2 experts in housing or homeless policy. The Board will identify priorities and goals and will dispense funding to projects that match these goals.
What are the benefits of the San Gabriel Valley Regional Housing Trust?
In Los Angeles County, more than 50% of residents spend more than 30% of their income on rent. The San Gabriel Valley Regional Housing Trust will create a way for the San Gabriel Valley to receive both public and private money. The Trust will be able to distribute this money throughout the region to construct affordable housing and reduce the number of residents that are rent-burdened. The funding and programs will be controlled locally, by a Board made up of elected representatives in the San Gabriel Valley.
Why should I attend the stakeholder meetings?
We expect that the Regional Housing Trust will be operational in early 2020. This is your opportunity to learn more about it and provide your input! Please register here if you are interested in attending the stakeholder meetings.
In addition to stakeholder meetings, SGVCOG will also be holding a number of stakeholder focus group meetings that will provide additional opportunities for targeted groups to provide targeted input. While each meeting is targeted towards a different stakeholder group, any stakeholders are welcome at any meeting. We want to hear your concerns, suggestions, and ideas for how to make the Regional Housing Trust as effective as possible. Additional details regarding the focus groups' meeting dates and locations can be found below. Please register here if you are interested in attending the focus group meetings.