Portantino Bill Creating Tri-City Regional Housing Trust Clears Senate Floor

Tuesday, May 3 2022

For Immediate Release: May 3, 2022

Contact: Lerna Shirinian, (818) 409-0400

 

Portantino Bill Creating Tri-City Regional Housing Trust Clears Senate Floor

 

Sacramento, CA - Senate Bill 1177, introduced by State Senator Anthony J. Portantino (D – La Cañada Flintridge) which seeks to create an affordable housing regional trust between the cities of Pasadena, Burbank, and Glendale, passed the Senate Floor.

“Nearly all California communities have been impacted by the high cost of housing and the devastating effect it has had on lower income households The cities of Pasadena, Glendale and Burbank have been impacted particularly hard,” stated Senator Portantino.  “A long-term regional approach is critical to addressing California’s affordable housing crisis - which is why SB 1177 is so important.  I’m proud to represent these three great cities that initiated this creative solution and a framework to help solve our regional housing needs.” 

The high cost of housing and the effects of the COVID-19 pandemic have had a significant impact on lower income households, with rents and home prices having far outpaced wage growth.  Collectively, the cities of Burbank, Glendale, and Pasadena have nearly 3,000 affordable housing units in the combined development pipeline, including permanent supportive housing, senior housing, workforce housing, and affordable home ownership units.  However, they are unable to bring their backlog of affordable housing projects to completion due to insufficient local funding.  This situation has dramatically affected the city’s ability to meet all of their affordable housing needs.

“Senator Portantino’s SB 1177 will create a new joint powers authority, the Burbank, Glendale, Pasadena Regional Housing Trust Fund.  Pasadena strongly supports this effort,” stated Pasadena Mayor Victor Gordo.  “There is a critical need to increase the production of affordable housing in the tri-city area and this new Trust Fund will enable more resources to be made available to do just that, and to do it by taking a regional approach.  Pasadena has projects lined up and ready to go ranging from permanent supportive housing to affordable homeownership, but we need subsidy dollars to bring them to fruition.”

SB 1177 will create of a regional housing trust fund that would be administered by a joint powers authority (JPA) comprised of the cities of Burbank, Glendale, and Pasadena.  If created, the JPA would be allowed to request and receive private and state funding allocations, as well as authorize and issue bonds, to help finance affordable housing projects for persons and families of extremely low-, very low-, low-, and moderate-income households. 

“The proposed Burbank Glendale Pasadena Regional Housing Trust will be a critical tool for our tri-city area to receive funding for additional affordable housing in the region; a region with major employers, excellent transportation hubs, and a long history of working collaboratively together.  This proposed regional housing trust is another opportunity to collaborate on the creation of affordable housing.  The housing crisis cannot be solved independently, and we are committed to working together to add to the thousands of units already developed in our communities, and in our respective development pipelines,” stated Burbank Mayor Jess Talamantes.

The cities of Burbank, Glendale, and Pasadena are members of the Arroyo Verdugo Sub-Region and have worked collaboratively in the past, sharing the goal of cooperatively addressing regional priorities and matters of mutual interest.  They each operate their own housing authority, and both Glendale and Pasadena are two of the three cities in the state that have their own homeless continuum of care.

“The City of Glendale is excited that SB 1177 has passed the Senate floor with such strong support,” stated Glendale Mayor Ardashes “Ardy” Kassakhian.  “We thank Senator Portantino for initiating this worthwhile endeavor to address our statewide housing crisis in a manner that provides cities with resources that are so badly needed.  We are confident that the tri-cities will work together to bring quality, affordable housing to our region.”

 

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