(1) Discussion of the Projected Funding Shortfall for Housing Programs Provided by the City and (2) Provide Direction to the City Manager/Executive Director as Deemed Appropriate. City of Culver City California Agenda Item Report Meeting Date: 09/22/14 JOINT CITY COUNCIL/CULVER CITY HOUSING AUTHORITY AGENDA ITEM: (1) Discussion of the Projected Funding Shortfall for Housing Programs Provided by the City and (2) Provide Direction to the City Manager/Executive Director as Deemed Appropriate. Item Number: J 1 Contact Person/Dept: Sol Blumenfeld / Tevis Barnes Fiscal Impact: Yes X No Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification E mail Agenda and Meetings City Council and Housing Authority Phone Number: (310) 253 5700 / (310) 253 5780 General Fund: Yes X No Attachments: X Action Item: X (09/17/14) Department / Assistant Director Approval: Sol Blumenfeld (09/17/14) Chief Financial Officer Approval: Jeff Muir (09/17/14) City Attorney/Authority General Counsel Approval: Carol Schwab (by H. Baker) (09/17/14) Authority Special Counsel Approval: Deborah Rhoads (09/17/14) City Manager/Executive Director Approval: John M. Nachbar (09/17/14) RECOMMENDATION: Staff recommends the City Council and the Culver City Housing Authority (Authority) Board consider the anticipated funding shortfall for Housing Program provided by the City and/or the Authority and provide direction to the City Manager/Executive Director as deemed appropriate. BACKGROUND: At the May 19 2014 budget meeting the City Council/Authority Board requested that staff provide a report on the Housing Programs affected by the State s elimination of redevelopment agencies. The Housing Division was historically funded primarily with tax increment deposited into the former Culver City Redevelopment Agency (former CCRA) Low and Moderate Income Housing Fund (Housing Set Aside Funds). With the elimination of the former CCRA that funding source has been lost. The City and Author...
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