County Land Bank

CEO-Affordable Housing

County Spending Category
1.2 Reduce the Affordable Housing Shortfall
Federal Expenditure Category
Economic Impact Assistance: Other
Project Launch Date
05/10/2024
Anticipated End Date
12/31/2024

Project Contacts

Indicators & Metrics to Date

  • Community awareness events about property/land acquisition and future housing development
    0
  • Meet with CEO executives and counsel to recommend land bank entity
    0
  • Meet with Board Offices to make final decision on Land Bank's Model
    0
  • select the realtor and/or Internal Contractor & Monthly meetings with counsel to assist with restrictions
    20
  • Identify community realtors through chamber and/or local CBO recommendation; or Board Field office
    0
  • Community awareness events about property/land acquisition and future housing development
    0
  • Agreement template created
    0
  • Select the realtor and internal contractor
    0
  • Number of Households Receiving Eviction Prevention Services (Including Legal Representation)
    0
  • Number of Affordable Housing Units Preserved or Developed
    0

Target Populations

  • People Experiencing Homelessness

Project Description

On June 14, 2022, the Board directed the Chief Executive Office (CEO) to establish a land bank model to launch a land bank pilot program and allocated ARPA funding, and the CEO will continue to plan with and update the Board Offices on its progress. The CEO will implement the Land Bank Pilot project to ensure that the homeless and our most vulnerable residents can access 300-700 affordable housing units. The project will prevent real estate speculation and create new opportunities for affordable housing in areas experiencing and set to experience rapid gentrification and displacement near the Los Angeles River. Studies have shown that people who are homeless are among one of the most vulnerable groups of people impacted by COVID-19 because they are more likely to be older male smokers, with many underlying medical conditions, and under pre-COVID-19 conditions were 10 times more likely to die than the general population. People who are homeless generally cannot maintain social distancing in shelters or other public spaces and there is insufficient access to handwashing or hygiene increasing the vulnerability of virus transmission and health complications. The project funds will be used to acquire 5-15 properties for households most impacted by the pandemic and the homeless. The completion of this project will lead to new affordable housing units, provide safe and secure housing options, and mitigate the spread of the virus. The homeless populations to be housed include the most vulnerable to COVID. The acquisition process will involve working with realtor(s) already identified through County contracts or internal subject matter experts from high priority areas, existing County employees, or if there is need to select a realtor, the realtor must be from/work with or serve high priority areas. Then, the land bank would work with the Board offices to identify properties available on the market or tax defaulted that would be viable for affordable housing. The land bank would create awareness and buy in from community and local jurisdictions. The land bank would conduct due diligence on properties to determine if property viable to purchase, and then negotiate the sale to acquire property. Finally, the land bank entity will work with counsel to ensure affordability covenants on the properties (for households ranging from 0-50% Area Median Income).

Goals & Objectives

Goal Description 1. Establish a land bank model. On June 14, 2022, the Board directed the CEO to establish and implement a land bank model with ARPA funding. 2. Acquire properties 5-15 properties (goal) 3. Ensure affordability of properties with covenant restrictions

Objective Description 1. Identify entity to implement land bank pilot program 2. Acquire properties by December 31, 2024 3. Develop documents required to restrict the land only for affordable housing

Activity Description 1. Conduct analysis with County Counsel and outside counsel to determine advantages and disadvantages for options for organizational structure. 2. Acquire properties 3. Conduct community outreach and local jurisdictions to gather feedback 4. Meet with counsel to develop convenant/title restrictions to ensure land remains affordable 55-99 years
Indicators
# Type Name Baseline Target
1 Program Outcome Community awareness events about property/land acquisition and future housing development 2.00 2.00
2 Program Outcome Meet with CEO executives and counsel to recommend land bank entity 2.00 2.00
3 Program Outcome Meet with Board Offices to make final decision on Land Bank's Model 1.00 1.00
4 Program Outcome select the realtor and/or Internal Contractor & Monthly meetings with counsel to assist with restrictions 12.00 12.00
5 Program Outcome Identify community realtors through chamber and/or local CBO recommendation; or Board Field office 5.00 5.00

Activity Description Meet with counsel to develop convenant/title restrictions to ensure land remains affordable 55-99 years
Indicators
# Type Name Baseline Target
1 Performance Agreement template created 1.00 1.00

Activity Description Complete analysis to determine advantages and disadvantages for options for organizational structure.
Indicators
# Type Name Baseline Target
2 Performance Meet with Board Offices to make final decision on Land Bank's Model 5.00 5.00

Activity Description County acquires properties in areas most impacted by the pandemic
Indicators
# Type Name Baseline Target
1 Performance Select the realtor and internal contractor 1.00 1.00

Activity Description Conduct community outreach and local jurisdictions to gather feedback
Indicators
# Type Name Baseline Target
1 Performance Community awareness events about property/land acquisition and future housing development 2.00 2.00