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Santa Barbara Council approves $2 million from reserves for local housing trust fund, debates second-year pledge
Summary
After hours of budget deliberations and public comment, the Santa Barbara City Council voted to allocate an additional $2 million from the general fund reserves to the city's Local Housing Trust Fund for fiscal year 2026 and held a separate vote to approve a 2027 allocation, drawing sharp debate over reserve policy and future revenue risks.
The Santa Barbara City Council voted on June 10 to direct $2,000,000 from the city's general fund reserves into the Local Housing Trust Fund for fiscal year 2026, after extended discussion about the budget, Measure I revenues, and risks to the city's reserves.
City Finance Director Keith DeMartini and Budget Manager Natalia Glusick presented the city administrator's recommended two-year budget and a set of staff-recommended technical adjustments. DeMartini noted the recommended budget incorporated voter-approved Measure I revenue and left the general fund with a modest projected surplus before the council's changes; Glusick described the city's cost-recovery approach to fee setting and listed departmental fee updates that contributed to the revenue picture.
The council debated a finance committee recommendation that would fund a $3,000,000 baseline allocation for affordable housing in fiscal years 2026 and 2027 and add $2,000,000 in FY 2026 to be repaid prior to any…
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