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Agenda Item 37.

City Council Meeting

Meeting Date:	06/18/2019
FROM:	Bill Gallardo

Subject:

Assignment of Senior Citizen Housing Subsidy Agreements to the City of Brea and Execution of an Assignment Agreement and Taking Other Related Actions

RECOMMENDATION

Approve resolution.

BACKGROUND/DISCUSSION

As Council is aware, the State’s 2012 actions to dissolve Redevelopment Agencies caused our Senior Subsidy Program from accepting new applicants at that time. This program provides a $254 monthly rent subsidy to assist qualified Senior’s with their rent payment. This program dates back into Brea Redevelopment Agency history where revenues generated by the Agency provided a reliable and consistent funding source for this program. The unwinding of Redevelopment funded this program through December 2019 with no further funding from that source available after that date. Staff discussed this circumstance with the Council in 2017 and received its direction to continue funding any remaining program participants after December 2019 via the City's Affordable Housing Trust Fund (Fund 270).

To achieve the Council's goal to continue funding any remaining program participants after December 2019 two actions are necessary--this is the second of those actions, the first being the subject of a separate report and action from the Council (also on this meeting agenda). The action proposed here is by the Council in its capacity as the Successor Agency to accompany the prior action taken by the Council for the City. Together, these actions serve to have the City now fund this program and its remaining participants.

The resolution and assignment agreement for Successor Agency to the City of Brea are provided as attachments to this report.

FISCAL IMPACT/SUMMARY

The funding for this program through the Successor Agency to the City of Brea ends in December 2019 and is budgeted within the Successor Agency proposed FY 2019-20 budget.

RESPECTFULLY SUBMITTED:

William Gallardo, City Manager
Prepared by: Lee Squire, Financial Services Manager
Concurrence: Cindy Russell, Administrative Services Director

Attachments
Resolution
Assignment and Assumption Agreement - Attachment A to Resolution