DATE: December 19, 2024
TO: Housing Policy & Resource Committee
FROM: Acting Assistant City Manager
SUBJECT
Tittle
Analysis of the City of Hayward’s Competitiveness for State Funding for Affordable Housing Development
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RECOMMENDATION
Recommendation
That the Housing Policy & Resource Committee accepts this informational report on an analysis of the City of Hayward’s competitiveness for receiving state funding relating to housing development projects.end
SUMMARY
Summary
This staff report discusses the City of Hayward’s strengths and weaknesses related to its ability towards obtaining state funding for the development of affordable housing. Staff has reviewed several grants to identify common themes that would make the City competitive for future state funding opportunities.
Over the last six years, Hayward has supported five affordable housing projects, three of which have struggled to secure state funding. Additionally, the City will need to support additional projects in order to meet its Regional Housing Needs Allocation (RHNA) targets.
This report has also identified key strengths of the City’s current eligibility and competitiveness for state funding, including its Pro-housing Designation, commitment to anti-displacement activities, and a variety of target demographics. However, the City faces several challenges, including limited general funds for housing production, the need for improved Greenhouse Gas (GHG) reduction activities through partnerships with transit agencies, and a decrease in inclusionary housing funds.
In addition, the report outlines several opportunities to enhance competitiveness, including reducing cost containment factors, and forming partnerships with transit agencies. Nonetheless, threats to the City’s ability to secure state funding include its marginal rent-savings differential in Alameda County.
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ATTACHMENTS
Attachment I Staff Report