(a) The Oversight Board shall provide oversight for the Housing Stability Program Fund established under Section 10.100-78 of Article XIII of Chapter 10 of the Administrative Code by making recommendations and providing guidance for the use of the Housing Stability Program Fund for Social Housing Developments, including, but not limited to, the acquisition of land and/or improvements, preservation, development, rehabilitation, construction, operation, loans, grants, and other eligible uses determined by MOHCD, and as included in any Housing Stability Fund regulations. The Oversight Board shall seek to make its recommendations through a racial and economic equity lens, with an eye toward the short-term and long-term impact on the use of the monies from the Housing Stability Program Fund.
(b) To aid the Oversight Board in making its recommendations and providing guidance, MOHCD shall submit a report to the Oversight Board by January 15 annually and present on the report at a subsequent Oversight Board meeting. MOHCD shall report on the use of the Housing Stability Fund during the preceding fiscal year, which report shall include, but need not be limited to, the amounts approved for disbursement for specific uses, the number and size of sites acquired and type (including improved or vacant), the scope of rehabilitation work for improved sites, the number of units developed or assisted by the Housing Stability Fund, the neighborhoods/geography of projects funded, and overall program implementation goals for the current fiscal year and proposed priorities for the next fiscal year.
(c) The Controller’s Office shall provide a written report to the Board of Supervisors and the Oversight Board, by February 1 annually, with a summary of all revenues collected under real property transfer tax in the prior fiscal year 1
(d) The Oversight Board shall make recommendations, including budget recommendations, to the Board of Supervisors by March 31 annually.
(Added by Ord. 233-20, File No. 201183, App. 11/13/2020, Eff. 12/14/2020)
CODIFICATION NOTE