Legislative Policy Committee to Consider Support for Creation of Burbank-Glendale-Pasadena Housing Trust Fund

Pasadena’s City Council Legislative Policy Committee will consider a recommendation by the Department of Housing to formally support proposed legislation by State Senator Anthony J. Portantino creating a Burbank-Glendale-Pasadena Regional Housing Trust Fund joint powers authority that could help generate new funding for affordable housing programs.

The specific recommendation is for the Council to authorize the Mayor to transmit a letter of support for the proposed legislation to Sen. Portantino’s office. The other part of the recommendation is for Housing Department staff to be authorized to work with Portantino’s office in support of the proposal and help facilitate the formation of the proposed Burbank-Glendale-Pasadena joint powers authority once the bill is approved.

According to an agenda report prepared by the Housing Department the lack of funding is a key limiting factor in the City’s ability to adequately address its affordable housing crisis.

With the creation of a joint powers authority among the cities of Pasadena, Burbank and Glendale to administer a regional housing trust fund, this lack of funding can be addressed.

“The JPA would be able to request and receive state funding allocations, as well as authorize and issue bonds, to help finance affordable housing projects for persons and families of extremely low, very low, and low income,” the report said.

It added the affordable housing shortage is especially acute in the Arroyo Verdugo region of Pasadena, Burbank, and Glendale due to the area’s high cost of housing. Collectively, Pasadena, Burbank, and Glendale have nearly 3,000 affordable units in the development pipeline, and there is not enough funding to bring all the pipeline affordable housing projects to completion, as well as to grow the pipeline to meet the affordable housing need, the report said.

The Housing Department also said the JPA would be modeled after the San Gabriel Valley Regional Housing Trust set up in 2020, and the Orange County Housing Finance Trust that was established a year earlier.