Title
a. Receive information on Golden State Finance Authority (GSFA) per Board Referral #2019.17
b. Approve request to have Monterey County join the Golden State Finance Authority (a Joint Powers Authority) as a Member. (ADDED VIA ADDENDA)
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Receive information on Golden State Finance Authority (GSFA) per Board Referral #2019.17.
b. Approve request to have Monterey County join the Golden State Finance Authority
(a Joint Powers Authority) as a Member.
SUMMARY:
It is recommended that the Board of Supervisors approve Monterey County joining Golden State Finance Authority (GSFA), a Joint Powers Authority (JPA), as a full-voting member. Monterey County has been an Associate Member of GSFA since 2011. Monterey County recently became a Member of the Rural County Representative of California (RCRC), an affiliated entity of GSFA, which makes Monterey County eligible to become a Member of GSFA.
GSFA is a California Joint Powers Authority and a duly constituted public entity and agency, the mission of which is to provide affordable housing and contribute to the social and economic well-being of California residents. The Authority was organized in 1993 and exists under, and by virtue, of Articles 1-4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California.
GSFA develops and administers programs that provide a source of financing for residential home purchases or refinances, commercial and residential energy efficiency improvement projects, multi-family housing construction and rehabilitation projects, and city and/or county infrastructure improvements.
GSFA has distinguished itself as a leader in housing finance in California for over two decades, helping over 78,000 individuals and families purchase a home. GSFA has provided more than $550 million in down payment assistance and participated in financing over 35,000 energy efficiency improvement projects across Cali...
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