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Description
San Bruno City Council Meeting January 11, 2011
4. Presentations
B
Thank
You
mayor
wayne
and
honourable
members
of
the
City
Council
I
appreciate
your
taking
the
time
to
have
an
update
from
the
housing
endowment
and
regional
trust.
The
heart
of
San,
Mateo,
County
I,
live
and
work
just
across
the
border
in
South
San
Francisco.
So
it's
good
to
be
here
in
my
neighboring
city,
you
have
the
printout
of
the
PowerPoint,
so
I'll
just
go
fairly
quickly
through
it.
Hearts
mission
is
to
raise
funds
from
public
and
private
sources
to
meet
critical
housing
needs
in
San,
Mateo
County.
B
Heart
is
organized
as
a
joint
powers
authority
and
we
do
have
all
20
cities,
plus
the
county
of
san
mateo
in
the
jpa
and
unusual
for
most
j'ai
pas,
it's
governed
by
a
public-private
Board
of
Directors.
So
we
bring
a
broad
range
of
stakeholders
to
the
table,
including
the
faith
community,
banking,
real
estate,
nonprofit
service
providers
and
other
community
members,
chambers
of
commerce
to
date,
I'm
proud
to
say,
we've
helped
fund
800
homes,
either
constructed
renovated
or
purchased,
and
we
just
did
that
on
january.
B
The
other
thing
about
heart
is
we
leverage
funding
from
other
sources,
so
the
total
development
costs
of
the
developments
we've
invested
in
is
over
200
million
dollars,
and
that
means
more
than
20
to
1
ratio
of
funding
from
other
sources.
It
also
means
that
many
people
being
put
to
work
in
our
community
to
build
the
housing
or
to
help
our
home
our
workforce
become
homeowners.
B
Briefly,
we
have
three
different
loan
programs:
permanent
financing
of
affordable
rental
apartments,
short-term
financing
to
get
either
rental
or
ownership
development
going
and
home
buyer
assistance.
I
think
the
information
is
in
the
packet,
so
I
don't
need
to
go
into
a
lot
of
detail.
I
did
want
to
point
out
that
the
village
at
the
crossing
here
in
zamunda
was
one
of
our
very
first
investments,
228,
affordable
apartments
for
seniors,
and
those
ladies,
are
residents
there,
and
one
of
them
has
become
a
part-time
volunteer
with
our
office
because
she
wants
to
give
back
to
the
community.
B
So
we
really
appreciate
that
we
also
helped
some
senior
housing
in
daly
city
and
trestle
glen,
which
opened
just
last
year
at
the
colma
bart
station.
That
also
has
a
childcare
center
on
site
which
we're
excited
about.
So
it's
really
the
model
of
trans
transit,
oriented
development
right
next
to
bart
with
those
services
for
the
families,
and
then
we've
also
invested
in
a
new
development
moving
forward
in
south
san
francisco.
That
will
break
ground.
We
hope
in
a
couple
months
and
put
more
people
back
to
work
as
well.
B
Our
revolving
loan
fund
has
some
short-term
loans.
We
also
put
some
money
into
the
colma
bart
development.
There
we
helped
renovate
some
apartments
in
Pacifica
and
then
there's
another
new
transit
oriented
development
on
the
Grand
Boulevard
and
San
Mateo
Peninsula
station
I
would
like
to
say
another
a
little
bit
more
about
our
home
buyer
program.
We
call
it
opening
doors
in
our
community.
As
you
know,
things
changed
a
lot
in
2008
with
the
changes
in
the
financial
markets
and
the
ownership
market.
B
It
used
to
be
pretty
easy
to
get
a
loan
too
easy,
but
some
would
say:
we've
tightened
up
a
little
too
much
in
the
market
and
it's
hard
for
people,
even
if
they
have
good
credit
and
employment
to
find
a
loan
in
the
marketplace.
So
we
have
a
five
percent
down
payment
program
and
we
partner
with
a
credit
union
that
works
in
santa
clara
and
san
mateo
county
mary
west,
and
we
put
in
a
second
loan
to
help
make
that
more
affordable
for
the
family.
B
Moving
in
people
must
either
live
or
work
in
San
Mateo
County
and
they
need
to
have
decent
credit
because
we're
not
trying
to
make
risky
loans.
We
want
to
make
solid
investments,
and
here
is
the
release
family.
They
live
in
san
bruno
and
he
actually
was
able
to
buy
the
home
next
to
where
he
grew
up,
because
he
was
hoping
to
stay
in
the
community
where
he
grew
up
and
have
that
multi-generational
family
and
it
just
worked
out
perfectly.
They
were
able
to
buy
next
door
to
mom
and
dad
and
grandma
and
grandpa.
B
A
B
B
Actually
one
other
thing,
I
meant
to
say
early
on
is,
of
course
we're
following
the
governor's
proposal
to
eliminate
redevelopment
agencies
very
carefully,
because
that
would
really
impact
the
ability
of
cities
to
do
affordable
housing.
So
just
wanted
to
put
that
out
there
to
the
degree
that
San
Bruno
gets
involved
elite.
The
League
of
Cities
we'd
like
to
help
out
like.