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Inglewood council receives report on South Bay Regional Housing Trust and Measure A funding
Summary
Council received and filed a staff report on forming the South Bay Regional Housing Trust, which would administer $7,300,000 in Measure A funds for 100% affordable housing and enable lending activities local COG staff said they cannot perform.
The Inglewood City Council on Feb. 3 received a staff report and presentation on forming the South Bay Regional Housing Trust, a joint powers authority intended to administer Measure A voter funds and support 100% affordable housing projects across the South Bay.
South Bay Cities Council of Governments senior project manager Ronson Chu said the trust would allow participating cities to use voter-allocated Measure A dollars (the presentation referenced $7,300,000 in funding) for activities the regional COG cannot undertake directly, including development loans, construction pre-development loans and preservation of…
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