HomeMy WebLinkAboutDiamond Bar City Manager SGVRHT State Earmark Letter
Ruth M. Low Andrew Chou Stan Liu Nancy A. Lyons Steve Tye
Mayor Mayor Pro Tem Council Member Council Member Council Member
City of Diamond Bar I 21810 Copley Drive Diamond Bar CA 91765-4178
www.DiamondBarCA.gov I (909) 839-7000
April 19, 2022
Honorable Nancy Skinner, Chair Honorable Philip Ting, Chair
Senate Budget & Fiscal Review Committee Assembly Budget Committee
State Capitol State Capitol
Sacramento, CA 95814 Sacramento, CA 95814
RE: SUPPORT FOR BUDGET ALLOCATION OF $100,000,000 IN GENERAL FUNDS
FOR THE SAN GABRIEL VALLEY REGIONAL HOUSING TRUST
Dear Senator Skinner & Assemblyman Ting:
The City of Diamond Bar strongly supports the one-time FY 2022-23 budget
allocation request submitted by Senator Susan Rubio seeking $100,000,000 from
the General Fund to fund the planning and construction of affordable and
homeless housing in the San Gabriel Valley. This funding would be instrumental
in addressing the affordable housing shortage and homeless crisis in our region
of 31 cities located in eastern Los Angeles County.
The San Gabriel Valley Regional Housing Trust (SGVRHT) is a joint powers
authority established in February 2020 by legislation authored by Senator Susan
Rubio. In its first two years, the SGVRHT has successfully leveraged local
resources to secure two state matching grants, developed the first tiny home
bridge housing site in the San Gabriel Valley, and funded 552 affordable and
permanent supportive housing units in eight (8) cities. The SGVRHT aims to
provide a turnkey approach for project development, supporting projects from
inception to completion with predevelopment technical assistance,
acquisition and construction loans, and permanent financing. With an
average investment of $21,204 per unit, every dollar invested by the SGVRHT
leverages $22 in additional investment.
Support for SGV Regional Housing Trust Budget Allocation
April 19, 2022
Page 2
In just two years, the SGVRHT has already demonstrated how it can successfully
leverage other funds to help finance and construct affordable housing units. An
investment of this magnitude would serve as a catalyst to attract private capital
and additional investment in housing development for at-risk residents of the San
Gabriel Valley. We urge that this robust state investment be provided to support
the cooperative, proactive efforts by the communities of the San Gabriel Valley
to address the need for affordable and homeless housing.
Thank you in advance for your consideration of this budget allocation request in
response to the affordable housing and homelessness crisis in our region. Please
do not hesitate to contact me via e-mail at dfox@diamondbarca.gov if you have
any questions.
Sincerely,
Daniel Fox
City Manager
Cc: Senator Susan Rubio, CA-22
City Council
Ryan McLean, Assistant City Manager
Anthony Santos, Assistant to the City Manager
Marisa Creter, SGVCOG, Executive Director