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Anaheim council adopts Local Housing Trust guidelines, sets $4.5 million aside for later allocation
Summary
The Anaheim City Council approved program guidelines and an allocation plan for the newly created Anaheim Local Housing Trust Fund, accepting a $15 million initial payment from the Disneyland Forward agreement and committing to report-back steps and reserve treatment for part of the funds.
The Anaheim City Council approved program guidelines and an allocation plan for the Anaheim Local Housing Trust Fund on a 7-0 vote, directing staff to hold $4,500,000 in a reserve account for later allocation.
The trust was created after the Disneyland Forward development agreement committed $30 million for housing; the city received the first $15 million and an additional $1 million from HUD that staff described as immediately available. City staff told the council the funds would be used across three program areas: production of income-restricted rental housing, a first-time homebuyer down-payment assistance program, and a housing stability pool for eviction prevention and rapid rehousing.
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