Rancho Palos Verdes votes to join South Bay Regional Housing Trust to access Measure A funds and revolving loan tools

Rancho Palos Verdes City Council voted Feb. 3 to join the forming South Bay Regional Housing Trust, a joint powers authority designed to preserve and produce affordable housing across member South Bay cities using Measure A and other regional funding.

Jackie Barrackak, executive director of the South Bay Cities Council of Governments, told the council the trust will have tools beyond grants — such as soft construction and pre‑development loans, preservation purchases, master leasing and home‑buyer assistance — and that loans can be recycled to fund future projects. Barrackak emphasized that the trust cannot override local land‑use decisions: projects must be approved by the city where they would be built.

Staff said initial trust administrative costs should be covered by Measure A allocations (the trust was identified in Measure A legislation and the COG expects approximately $1.4 million in early administrative funding, with the trust’s operating budget projected at roughly $500,000). The trust becomes effective when a minimum number of cities join; staff reported several cities had indicated support.

Council members asked whether trust‑funded projects built in a member city would count toward that city’s RHNA or other housing element obligations. Presenters confirmed eligible projects in a given city count for that city's planning goals. Several council members noted the trust’s loan and preservation tools could be useful for smaller cities with fewer development opportunities.

Council action and next steps

Council directed staff to join the trust and return with the joint powers agreement and an appointment recommendation for the council’s representative on the trust board. The council vote was unanimous.

Why it matters

The trust offers pooled regional capital and expertise to preserve and develop affordable housing, particularly for cities that cannot individually finance or deliver large subsidies. For Rancho Palos Verdes, the trust offers a way to pursue preservation and renter supports without the city having to develop a standalone program and while retaining local approval authority.

Next steps

Staff will return with the JPA approval language and a recommendation for the city’s trust board member, and the trust will convene an initial organizational meeting after member cities finalize delegations.