SB City Council to address affordable housing

By NEIL HARTSTEIN

NEWS-PRESS STAFF WRITER

The Santa Barbara City Council today will address the city’s housing crisis by reviewing a draft ordinance to create an affordable housing trust fund called the Housing Opportunities, Preservation and Equity Fund (HOPE).

After the staff presentation, council members will review the draft ordinance and advise staff about what, if any, changes they want to make, and direct

Council members to discuss HOPE trust fund at today’s meeting

staff to return with a revised ordinance that reflects their comments and concerns.

The council will meet at city hall, 735 Anacapa St., starting at 2 p.m.

The establishment of a new housing trust fund was initiated by the council at its Oct. 4 meeting as a means of addressing the city’s housing crisis, staff noted in its report to council.

“The Housing Opportunities, Preservation, and Equity (HOPE) Fund will support a variety of housing-related initiatives, including new development, acquisitions, and rehabilitations of real properties,” staff said.

“The fund will also support programs and services that assist households with incomes that qualify for assistance and will focus, in particular, on meeting the needs of the local workforce and assisting people struggling to afford or maintain existing housing due to soaring costs.”

Councilmembers Eric Friedman and Meagan Harmon spearheaded the council’s Oct. 4 vote to create the affordable housing trust fund for the city.

“It would send a strong message to the philanthropic community that we are taking the housing situation seriously,”

Councilmember Friedman said at the time.

Councilmember Harmon added that the creation of a public-private partnership would be a form of coalition building

“to build homes and find affordable permanent housing solutions, and say we have made a meaningful difference for our neighbors.