REPORT TO COUNCIL
SUBJECT
Title
Adopt a Resolution to Comply with State Housing Laws in Order to Submit a Letter of Interest for the Housing Incentive Pool Funds
Report
BACKGROUND
The Metropolitan Transportation Commission (MTC) is the metropolitan planning organization for the nine-county San Francisco Bay Area region, which includes Santa Clara County. The MTC administers the federally funded Housing Incentive Pool (HIP), which provides transportation grants to promote the production and preservation of affordable housing. Established by MTC in October 2018, the HIP includes $76 million in funding for transportation projects, including $58 million in flexible federal funds through the second round of the One Bay Area Grant (OBAG 2) program and $18 million in local funds available for project selection by MTC through a funding exchange.
On February 26, 2020, MTC revised Resolution No. 4202 (Attachment 3 to this report) to clarify language within the federally funded One Bay Area Grant 2 (OBAG 2) Project Selection Criteria and Programming Policy to reflect the adoption of the HIP program guidelines per MTC Resolution No. 4348.
On December 20, 2023, MTC revised Resolution No. 4348 (Attachment 2) to define the eligibility and programming guidelines for the distribution of $71 million in HIP grant funds remaining after the $5 million sub-HIP set-aside. The grant is on a per-unit basis to the 15 jurisdictions that issued certificates of occupancy for the greatest number of eligible housing units over the five calendar years 2018 through 2022, and Sunnyvale is one of the 15 jurisdictions. The eligible housing units include both newly-built units and those preserved as affordable to households with low-, very-low- and moderate-incomes.
On March 27, 2024, MTC revised MTC Resolution No. 4202 to reflect the final HIP award amounts to the 15 jurisdictions; Sunnyvale's allocation is $1,836,000. To be eligible for this fund, MTC requires that local jurisdictions, i...
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