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HomeMy WebLinkAbout1993-06-30 - AGENDA REPORTS - AFFORDABLE HOUSING PROGRAMS (2)CITY OF SANTA CLARITA INTEROFFICE MEMORANDUM TO: ayo eid MrPers of the C uncll FROM: G r e vtt n ger DATE: June 30, 1993 SUBJECT: Implementation of Affordable Housing Programs BACKGROUND The City's General Plan established a number of goals and policies that encourage the preservation, rehabilitation and development of affordable housing In the City's planning area. In addition, the City has prepared and adopted a Comprehensive Housing Affordability Strategy or "CHAS" (as required by the National Affordable Housing Act to obtain future funding for Federal housing programs such as the Community Development Block Grant) which Identifies a number of programs to Implement the General Pian goals and policies. The Regional Housing Needs Assessment (RHNA) prepared by the Southern California Association of Governments (SCAG) In 1989 Indicates that the City's planning area needs an additional 1,031 very low income units and 531 tow Income units by 1994 to meet SCAG's projected requirements for the area. An affordable housing survey (Attachment #1) done by staff In May 1993 Indicated that 70 very low Income units and 72 low Income units have been constructed since the RHNA was prepared. To date, the City has Implemented the following affordable housing programs and policies: ■ Mobilehome Rent Stabilization Program ■ Affordable housing density bonus provisions (Unified Development Code) ■ Development standards for second units (Unified Development Code) ■ Affordable Housing Policy - guidelines for implementing development Incentives established In the Unified Development Code (Section 17.17.070) ■ Use of CDBG funds for various affordable housing rehabilitation programs (Handyworker Program and Public Facllitles/Improvements) ■ Fair Housing Education and Outreach Program ■ Participation in Los Angeles County Section 8 programs ■ Received support of California Contract Cities Association to use CDBG funds for low Income housing programs and mortgage assistance which creates homeownership opportunities The following policies, programs and development applications are pending: ■ Proposed Conduit Financing Policy (Attachment #2). The City has-been approached by a number of owners of senior housing developments to facilitate the Issuance of multi -family housing revenue bonds. Such requests have prompted a need for guidelines to evaluate the worthiness and vlability of such proposals and their conformance to the City's affordable housing policy. The draft policy ensures that no costs will be Incurred by the City on behalf of property owners/developers. State law requires that a minimum percentage of dwelling units be set aside for a residential development to qualify as "affordable housing," as follows: 10% for very low Income, 20% for low Income or 50% for seniors. The Council may wish to increase these percentages for developments seeking City bond Issues. Staff is seeking the Council's direction on the policy so that It can be amended, If necessary, and brought back to the Council for adoption. ■ Habitat for Humanity proposal. The Council has specifically expressed Interest in opportunities for affordable home ownership. Staff Is currently working with Habitat for Humanity (a non- profit organization) to find a location In the City for the construction of 10 - 20 homes. ■ Proposed HUD very -low Income senior apartments. Southern California Presbyterian Homes submitted an application for a 64 -unit very low income senior apartment complex to be located on Avenida Rotella in the Valencia area. The proposal was reviewed by the Planning Commission on June 15, 1993, and was continued to a date uncertain. This proposal will most likely be heard again on July 20. ■ Coordination with local social service agencies. Staff Is currently working with local social service agencies to create a directoryof where and how affordable housing -related Information and/or services can be obtained. ■ New CDBG programs approved for FY'93294. Use of CDBG funds for the Paint Rebate, Major Rehabilitation Loan, and Homeownership Assistance Programs. ■ HUD Fair Housing Assessment to Impediments of Fair Housing Choice. Approved for FY '93- '94. 93'94. ■ Future programs addressed In the CHAS five-year stratagy which have not yet been initiated Include the Integration of homeless and special needs, emergency housing, Identification of barriers to affordable housing, potential redevelopment programs, and a monitoring program for currently affordable units at potential risk of conversion to non market -rate status In the near future. In addition to updating the Council on the status of various City programs and policies, staff is seeking direction on pending and future programs and proposals. In February, 1993, staff formed an Interdepartmental Affordable Housing Committee (comprised of representatives from the Departments of Community Development; Finance; and Parks, Recreation and Community Services) to review various affordable housing issues, share information, and coordinate programs. The Community Development Planning Division coordinates the overall affordable housing strategy; the Finance Department coordinates financing for affordable housing. programs; and the -Parks, Recreation and Community Services Department Implements affordable housing programs. As a result of the formation of this Committee, staff Is In a position to take a more proactive approach to affordable housing if the Council so desires. A Report to President Bush and Secretary Kemp prepared in 1991 by the Advisory Commission on Regulatory Barriers to Affordable Housing found that housing has become the most heavily regulated sector of the American economy, and that restrictive and excessive government land use and development regulations which add unnecessarily to the cost of housing are often the result of the NIMBY (Not In My Back Yard) syndrome. A number of applicants have stated that, even with the waiver of development application fees (as provided for In the affordable housing development Incentive policy), the City's current fees are too high for affordable housing to be feasible. Staff believes that citizen participation, in conjunction with a marketing plan, Is necessary if the City Is to actively pursue the development of affordable housing. RECOMMENDATION Staff recommends that the Council: 1) Review the City's progress to date; 2) Discuss; and 3) Provide direction to staff. ATTACHMENTS Affordable Housing Survey - May 1993 Proposed Policy Guidelines for Use of Conduit Financing GAC:KMK edvd Isfdhsg+ kmk AFFORDABLE HOUSING SURVEY SANTA CLARITA VALLEY MAY 1993 NAME/LOCATION NUMBER/TYPE OWNER/PHONE NO. Very Low Income Units: Diamond Park Apartments 26/256 very low units G. H. Palmer and Assoc. 27940 Solemint Road 298-0200 Canyon Country *Riverpark Apartments 54/528 very low units G. H. Palmer and Assoc. 27303 N. Sara Street 250-0999 Canyon Country Park Sierra Apartments 78/776 very low units G. H. Palmer and Assoc. 18414 Jake's Way 251-9602 Canyon Country Sand Canyon Villas & Townhomes 221215 very low units G. H. Palmer and Assoc. 28923 Prairie Lane 298-6120 Canyon Country Valencia Village Apartments 381384 very low units G. H. Palmer and Assoc. 23700 San Fernando Road 257-1125 Newhall Low Income Units: Canyon Country Villas 66/328 low units G. H. Palmer and Assoc. 26741 Isabella Parkway 298-0195 Canyon Country Diamond Park Apartments 261256 low units G. H. Palmer and Assoc. 27940 Solemint Road 298-0200 Canyon Country *Riverpark Apartments 55/528 low units G. H. Palmer and Assoc. 27303 N. Sara Street 250-0999 Canyon Country Park Sierra Apartments 78/776 low units G. H. Palmer and Assoc. 18414 Jake's Way 251.9602 Canyon Country Sand Canyon Ranch 51/255 low units G. H. Palmer and Assoc. 28856 N. Silver Saddle Circle 298-1114 Canyon Country Sand Canyon Villas & Townhomes 22/215 low units G. H. Palmer and Assoc. 28923 Prairie Lane 298-6120 Canyon Country Valencia Village Apartments 39/384 low units G. H. Palmer and Assoc. 23700 San Fernando Road 257-1125 Newhall Low and Moderate Income Units: Canyon Terrace Apartments 22640 Garzota Drive Saugus Sierra Canyon Apartments 27520 N. Sierra Highway Canyon Country Meadowridge Apartments 23645 N. Meadowridge Drive Newhall 20/130 mod units 47/232 low & mod units 36/176 low & mod units *Old Ridge Route Road Apartments 10 units 31727-31737 Ridge Route Road Castaic Senior Units: Orchard Arms 23520 Wiley Canyon Road Valencia Valencia Villa Apartments 25827 Singing Hills Drive Valencia Whispering Oaks Apartments 22816 Market Street Newhall 182 low Income senior units 76 senior units 33/65 very low and low senior units Units located outside the City limits Sources: 297-3747 257-1297 259-9144 818/334-6894 Los Angeles County 255-5818 259-3921 259-1583 LAC Regional Planning list of HUD Prepay projects and Multifamily Housing Bond Issue projects 1991 Inventory prepared for the California Housing Partnership Corporation by the California Coalition for Rural Housing Project California Debt.Advlsory Commission report on Revenue Bond Proceeds LAC Community Development Commission 1992 Inventory prepared by Consumer Housing Information Service for Seniors .dvmrceWNd W..Fmk 4p q CITY OF SANTA CLARITA POLICY GUIDELINES FOR USE OF CONDUIT FINANCING SECTION I: GENERAL POLICY STATEMENT The City of Santa Clarita (the "City") has created these policies on debt financing (the "Policies") as guidelines to assist all concerned parties in determining the City's approach to conduitfinancing. It is the City's intent to support proposals which address a public need and provide a public. benefit. A. The City encourages the development, retention, and conversion of residential housing that is intended to provide quality affordable single-family housing for the first time home buyer within the incorporated areas of the City. B. The City encourages the development, retention, and conversion of residential housing which will, at a minimum, comply with both Federal and State requirements for senior, very -low, low and moderate income multi -family housing within the incorporated areas of the City. C. The City encourages industrial and commercial development projects which will increase the employment base within the City in order to create a synergistic jobs/housing balance throughout the City. SECTION II: INITIATION OF THE FINANCING A. [. Application With the exception of financing for single-family mortgage revenue bonds, the proponent of a project must obtain and submit the required 'application to the Finance Department. An application must be completed and the. necessary information provided, as determined by the Finance Department, before any action will be taken to process the application and initiate financing for a project. Processing and Formation Fees For participation in a conduit financing program, an initial non-refundable $2,000 fee is required upon submittal of an application. All costs to the City associated with the proceedings be advanced by the applicant. The applicant will be proceeds of the bonds sold for all monies advanced. -1- of issuance of bonds are to reimbursed solely from the If, in the judgment of the City, the costs incurred or projected will be in excess of the fee of $2,000, a written request shall be made to the applicant to advance monies sufficient to bring the account to a balance that is projected to meet remaining costs required to establish the financing. Failure to advance the requested monies within 10 (ten) days of a written demand by the City will result in all processing of the application to cease and no further actions to be taken toward establishing the financing district until the monies have been received. Waiver of this requirement can be made only by formal action of the City Council. C. Selection of Financing Team The City shall select the bond counsel, financial advisor, underwriter or placement agent or remarketing agent, and fiscal agent/trustee. It will require the retention of underwriter or disclosure counsel. Providers of letters of credit, liquidity supports and other types of credit enhancements are also subject to the approval of the City. In addition to the professionals noted above, the City reserves the right to retain additional professionals it deems appropriate. SECTION 111: REVIEW Appropriate staff members of the City are to review each proposed debt issue. and provide comment on whether the proposed debt issue is consistent with these and other City Policies; such as, the Housing Element of the City's General Plan, the City's Affordable Housing Policy, and the Comprehensive Housing Affordability Strategy (CHAS). City staff shall comment on the economic viability and credit worthiness of the proposed debt issue. In performing their function, City staff may, in their sole discretion, review a matter more than once and retain additional consultants to assist in its .review. The cost of such consultants is to be bome by the proponent of the debt issue*. In addition, City staff has an ongoing responsibility to monitor the status of debt issued by the City. The following are those matters which, at minimum, the appropriate staff members are to review and comment upon with regard to conduit financing. Prior to the City considering a resolution authorizing the sale. and issuance of single- family mortgage revenue bonds, multi -family mortgage reveue bonds, or industrial development revenue bonds, staff is to determine that: A. The rating on the bonds will satisfy Section V. of these Policies. If a variance is requested, the request is to be noted and recommendation made to the City Council with regard thereto. -2- "'SPT B. The applicant and each participant that is responsible for twenty percent (20%) of the debt service on the bonds have supplied the financial information required by Section IV.B. of these Policies. C. The structure of the -proposed financing is consistent with the applicable subsections of Section VI. of these Policies. In addition, City staff is to make any comment it deems relevant in determining the economic viability or credit worthiness of the proposed debt issue. City staff is to make a recommendation to the City Council as to whether or not to proceed with the sale and issuance of the bonds. Any proposal for. refunding or defeasing a particular conduit financing is to be reviewed and commented on by staff prior to it being submitted to the City Council for consideration. Waiver of any requirements or conditions of the Policy can be made only by formal action of the City Council. SECTION IV: ECONOMIC VIABILITY OF THE FINANCING In evaluating the application and the proposed debt issue, the City may require any or all of the following to determine the economic viability of the proposed project and the timing of the sale of any bonds or series thereof. To determine the economic viability of the proposed project, the City may also require an absorption study. A. Appraisal For single-family and multi -family mortgage revenue bonds and for industrial development revenue bonds, if the proposed debt issue is neither to be rated nor insured, an appraisal of the proposed project will be required.' The appraisal is to be made by an appraiser acceptable to the City and prepared consistent with the guidelines attached hereto as "Attachment A." B. Financial Information Required of Applicant For all conduit financing, the applicant and other participants or related entities in the proposed project who will be responsible for twenty percent (20%) or more of the debt service on the bonded indebtedness to be incurred may be required to provide financial information regarding themselves and the financial viability of the proposed project to be financed. This requirement will be adjusted appropriately if the proposed debt issue is to be rated or insured or otherwise guaranteed by an appropriate credit enhancement. Subsequent to the sale and issuance of the bonds, federal and state statutes and/or regulations regarding the particular type of financing may require the -3- preparation of periodic reports. The applicant and all major participants in the project will be required to provide that information needed to complete such statutorily required reports. In addition, the City may require information of the applicant or the major participants in the project to satisfy reporting demands of rating agencies or institutional buyers. C. Land Use Approvals For all conduit financing, it will be required that all finat land use approvals have been secured and all conditions thereon have been satisfied. All required environmental reviews are to have been completed in compliance with the California Environmental Quality Act (CEQA) and adopted City guidelines, if applicable. Staff may also review for compliance with the City's General Plan and Unified Development Code. D. . Equity Participation by Applicant and Major Participants In evaluating the proposed debt issue, staff will consider the equity participation of the applicant and the major participants in the proposed project. Equity participation is not a factor to be considered with regard to single-family mortgage revenue bond financing. SECTION V: REVENUE SUPPORTING THE FINANCING A. Single -Family Mortgage Revenue Bonds Single-family mortgage revenue bonds are supported by the revenues realized from the mortgages created through their respective bond programs. There may be additional investment agreements and credit supports required to insure that cash flows are sufficient to meet debt service requirements of the bonds. The City will support only those single-family bond financings which, through a combination of the mortgage revenue stream and any required investment agreements and/or credit supports, are rated "AA/Aa" or better by Standard & Poor's, Moody's or Fitch. B. Multi -Family Mortgage Revenue Bonds Multi -family mortgage revenue bonds are to be supported by the repayment by the developer/owner of the bond proceeds that have been loaned to. the developer/owner to pay for the cost of constructing a multi -family housing facility and other related costs from the rents and other funds of the developer/owner. Frequently, the repayment of the loaned proceeds is guaranteed by a letter of creditor similar credit support. In evaluating a proposed debt issue for multi -family mortgage revenue bonds, the City will require the following: �4r a. The capacity of the developer/owner to repay the loan when combined with a letter of credit or other credit support that may be necessary must be sufficient to cause the bond financing to receive a rating of "AA/Aa" (long term) or "SP-1NMIG-1" (short term or variable) or better by Standard & Poor's,. Moody's or Fitch., b. Any multi -family bond financing requiring a credit support must be structured to provide that all outstanding bonds will be redeemed if: 1) The rating of the credit support provider falls such that the rating on the bonds is lowered below "BBB/Baa" or "SP-2NMIG-2'; or 2) The City receives notice that the credit support facility is not being extended beyond its original term or is not being replaced with a credit support facility acceptable to.the City. C. A credit support facility shall have an irrevocable term of at least five (5) years from its date of issue. d. If the multi -family bond financing provides for a conversion from a variable to a fixed interest rate, the revenue supporting the fixed interest rate bonds, including any required credit support, must be sufficient to receive a rating of "A" from Standard & Poor's, Moody's or Fitch upon conversion. C. - Industrial Development Revenue Bonds Industrial development revenue bonds are to be supported by the repayment by the developer/owner of the bond proceeds that have been loaned by the issuer of the bonds to the developer/owner to pay for identified and approved costs needed to construct and/or equip a manufacturing facility and other related costs from revenues generated by the facility or - other funds of the developer/owner. Frequently, the repayment of the loaned proceeds is guaranteed by a letter of credit or similar credit support. In evaluating a proposed debt issue for industrial development revenue bonds, the City will require the following: a. The capacity of the developer/owner to repay the loan when combined with a letter of credit or other credit support that may be necessary must -be sufficient to cause the bond financing to receive a rating of "AA/Aa" (long term) or "SP-1NMIG-1" (short term or variable) or better by Standard & Poor's, Moody's or Fitch. b. Any industrial development bond financing requiring a credit support must be structured to provide that all outstanding bonds will be redeemed if: 1) The rating of the credit support provider falls such that the rating on the bonds is lowered below."BBB/Baa" or"SP-2NMIG-211; or -5- 2) The City received notice that the credit support facility is not being extended beyond its original term or is not being replaced with a credit support facility acceptable to the City. C. A credit support facility shall have an irrevocable term of at least five (5) years from its date of issue. d: If an industrial development bond financing provides for a conversion from a variable to a fixed interest rate, the revenue supporting the fixed interest rate bonds, including any required credit support, must be sufficient to receive a rating of "A" from Standard & Pooes,. Moody's or Fitch upon conversion. SECTION VI: STRUCTURING THE FINANCING In structuring a particular conduit financing, the City and its financing team will insure that the following issues are addressed if determined to be applicable or appropriate for the particular debt issue. A. Limited Obligations of the City Both the statutory authority providing for the issuance of the bonds as well as the proceedings resulting in the sale and issuance of the bonds must insure the bonds are limited obligations of the City payable only from the revenue source identified and do not require the expenditure of the general funds or any other revenues of the City to satisfy debt service obligations or to replenish any reserve. fund established for the bonds. B. Structuring of Debt Service Conduit financing may bear either a fixed or variable interest rate and have a final maturity that is not more than twenty-five (25) years, as determined appropriate by the City's financing team. However, conduit financing having a variable interest rate or a maturity of less than twenty-five (25) years shall be structured such that the principal of the bonds assumes, at minimum, a twenty-five (25) year amortization. Single-family mortgage revenue bonds will have a maturity of thirty (30) years. C. . Redemption Provisions Those redemption provisions that are statutorily required or determined by the financing team to be most compatible with a particular conduit financing will be required. lm D. Reserve Funds �+ The City will require that for each type of financing a reserve fund be established at a required funding level as determined appropriate by the financing team. E. Underwriter and Original Issue Discount The underwriter's discount shall be negotiated and determined solely by the City and shall be competitive with and .comparable to such discounts on similar financing being issued by the City or other public entities. The City shall consider any other compensation the underwriter may be receiving in connection with the bond financing in determining the appropriate amount of the discount. An original issue discount will be permitted only if the City determines that such discount results in a lower true interest cost on the bonds. F. Timing of the Bond Sale No resolution authorizing issuance and sale of the bonds will be considered by the City Council until the financing team determines that all conditions precedent thereto have been satisfied. SECTION VII: CREDIT ENHANCEMENTS Credit enhancements, if required by the City, are utilized either to improve the credit worthiness of the proposed financing or to insure that the debt service requirements of the proposed debt issue are met in a timely manner. It is important to the City to minimize the possibility of a debt issue being placed in default and to insure that sufficient cash flows are available to meet debt service requirements. The City will examine carefully the provider of the required creditfacility and the form that the credit facility .will take. The rating of the provider, as well as the provider's capitalization, are of principal concern, and a reduction in either during the term of the credit facility to a level unacceptable to the City may require that an alternate credit facility be secured from an acceptable provider. The City reserves the right, in its sole discretion, to determine the acceptability of both the credit facility and its provider. The nature and terms of the credit facility will vary with regard to the type of financing for which it is being required: The following are the principal considerations of the City in requiring credit enhancement for conduit financing. A. Single -Family Mortgage Revenue Bonds Not applicable. -7- 4 C. Multi -Family Mortgage Revenue Bonds 0 The credit facility will, at minimum, satisfy the criteria listed in Section V.B. of these Policies. Industrial Development Revenue Bonds The credit facility will, at minimum,. satisfy the criteria listed in Section V.C. of these Policies. SECTION VIII: OFFERING STATEMENTS It is the intent of the City to comply with all applicable federal or state requirements regarding disclosure to insure that fair and accurate descriptions of debt issues are provided to the purchasers of the bonds. The City will require retention of counsel by an underwriter or disclosure counsel for any particular conduit financing having an aggregate principal value of $1,000,000 or more. Decisions as to the adequacy of the disclosure will be determined by the City, its counsel, bond counsel and underwriter or disclosure counsel. No preliminary or final offering statement for a particular conduit financing will be released for circulation unless it is deemed final by the City or the advice of its counsel and bond counsel. The proponent(s) of a particular conduit financing and all principal participants therein are expected to provide the information requested by the City, its counsel, the underwriter, its. counsel, disclosure counsel or bond counsel that is deemed necessary for disclosure purposes. Failure on the part of the proponent and any principal participants to comply with such requests will jeopardize completion of the debt issue. The proponent of a particular conduit financing and all principal participants therein will be required to execute those certificates and provide those written opinions of their respective counsel that are required by the terms of the bond purchase agreement. Failure to do so will result in the bonds not being sold and issued. SECTION IX: ADMINISTRATION All matters related to administration of issued bonds are to be handled consistent with the terms of the trust indenture or fiscal agent agreement pursuant to which the bonds were sold. Administrative responsibilities with regard to the bonds and the, project being financed by bond proceeds will vary depending upon the nature of the project. WE lM N] Bond Administration These bonds are issued pursuant to trust indentures which place principal administrative responsibility with the trustee. There are certain matters that will require direction from the City; and in these instances City Manager or Director of Finance is identified to act on behalf of the City. Construction Contract Administration a. Single -Family Mortgage Revenue Bonds Not applicable. b. Multi -Family Mortgage Revenue Bonds The proponent or developer/owner will have sole responsibility for the construction of the project financed by the proceeds of the multi -family mortgage revenue bonds. C. Industrial Development Revenue Bonds The proponent or developer/owner.will have sole responsibility for the construction of the project financed by the proceeds of the industrial development revenue bonds. SECTION X: REFUNDING The principal objective of the City in refunding an outstanding debt issue is to secure an interest rate savings that will result in both an actual and present value savings to the property owners responsible for paying debt service on the bonds. The actual value of the savings -must significantly exceed the costs of the refunding and any increase in the principal amount of bonds that will be outstanding as a result of the refunding. The City will consider refunding a particular outstanding conduit financing to address unacceptable or unworkable bond covenants, debt service schedules or bond maturities. The City will not consider refunding existing non -tax-exempt indebtedness. NB gK400 MOLft WE ATTACHMENT A CRITERIA FOR APPRAISALS A: Definition of Appraisal. An appraisal is a written statement independently and impartially prepared by a qualified appraiser setting forth an opinion of defined value of an adequately described property as of a specific date, supported by the presentation and analysis of relevant market information. B. Standards of Appraisal. The format and level of documentation for an appraisal depend on the complexity of the appraisal problem. A detailed appraisal shall be prepared for complex appraisal problems. A detailed appraisal shall reflect nationally recognized appraisal standards, including, to the extent appropriate, the Uniform Appraisal Standards for Federal Land Acquisition. An appraisal must. contain sufficient documentation, including valuation data and the appraiser's analysis of the date, to support his or her opinion of value. At a minimum, the appraisal shall contain the following items: The purpose and/or the function of the appraisal, a definition of the estate being appraised, and a statement of the assumptions and limiting conditions affecting the appraisal. 2. An adequate description of the physical characteristics of the property being appraised, location; zoning, present use, an analysis of highest and best use. 3. All relevant and reliable approaches to value consistent with commonly accepted professional appraisal practices. If a discounted cash flow analysis is used, it should be supported with at least one other valuation method, such as a market approach using sales that are at the same stage of land development. If more than one approach is utilized, there shall be an analysis and reconciliation of approaches to value that are sufficient to support the appraiser's opinion of value. 4. A description of comparable sales, including a description of all relevant physical, legal and economic factors; such as parties to the transaction, source and method of financing, and verification by a party involved in the transaction. 5. A statement of the value of the real property. 6. The effective date of valuation, date of appraisal, signature and certification of the appraiser. WA C. Conflict of Interest. No appraiser of review appraiser shall have any interest direct or indirect in the real property being appraised for the Agency that would in any way conflict with the preparation of review of the appraisal. Compensation for making an appraisal shall not be based on the amount of the valuation. . KB/ghoonauWAb City of Santa Clarita City Council Study Session Wednesday, June 30, 1993 6:00 p.m. City Council Chambers' 23920 Valencia Blvd. 1st Floor Santa Clarita, CA. AGENDA CALL TO ORDER ROLL CALL ITEM 1 GRAFFITI ABATEMENT PROGRAM UPDATE - This item is - 6:00 -6:30 P.M. on the agenda representing the consensus of :the Pride Committeeas a collective group, and outlines . the proposed direction this group believes the City, working in conjunction with - both. the Anti -Gang - Task Force . Graffiti Sub -Committee .and the Pride Committee should pursue with regard to graffiti abatement. RECOMMENDED ACTION: The City Council receive the report and direct staff to proceed with the implementation of -the graffiti abatement program. --------------------------------------------------- ITEM 2 IMPLEMENTATION OF AFFORDABLE HOUSING PROGRAMS - 6:30-7:00 P.M., This item is on the agenda to update the Council on .the status of various City affordable housing programs and policies. RECOMMENDED ACTION: Review the City's progress to date, discuss and provide direction to staff. 7:00 P.M. RECESS' --------------------------------------------------- 7:30-8:30 ---------------------------- ------------------7:30-8:30 P.M. RECONVENE,TO CLOSED SESSION CNCLAGN:22 PUBLIC PARTICIPATION ADJOURNMENT