Councilmember Brotman briefed the council on items from the Burbank-Glendale-Pasadena Regional Housing Trust that he chairs. Brotman said the three-city trust received funding from the state Local Housing Trust Fund, and that the trust award included a full allocation (reported as $5,000,000 at the trust level) with Glendale slated to receive $4,000,000 for a future affordable-housing project.
Brotman also said the trust obtained funding to run a first-time homebuyer mortgage assistance program; each participating city will receive a share to operate that program (Brotman discussed a per-city allocation figure during the remarks and made a numeric clarification on the record). He said Pasadena will administer the mortgage assistance program on behalf of the trust and the trust is applying for further gap-financing under a regional early action planning program.
Councilmembers and staff indicated they will route program details through city staff when applications and eligibility rules are finalized; Brotman said the funds will be available for Glendale’s next affordable-housing project.