Los Angeles Municipal Code Ch. 176 Housing Impact Trust Fund

(a) There is hereby created and established within the Treasury of the City of Los Angeles a special fund to be known as the “ City of Los Angeles Housing Impact Trust Fund” (the Fund).

(b) The purpose of the Fund shall be the receipt, retention and disbursement of monies constituting Linkage Fees as defined in the Affordable Housing Linkage Fee Ordinance, Los Angeles Municipal Code (LAMC) Section 19.18, et seq. The total Affordable Housing Linkage Fee revenues received by the City pursuant to LAMC Section 19.18 shall be placed in the Housing Impact Trust Fund. The Mayor and City Council may establish additional revenue sources and appropriate funds for deposit in the Fund from time to time.

(c) The Fund shall be administered by the General Manager of the Housing Department (LAHD) or the General Manager’s designee(s), in accordance with established City practices and the provisions of the Fee Mitigation Act (Government Code section 66000, et seq.).

(d) Monies from the Fund shall only be expended within the boundaries of the City of Los Angeles to address the evolving and varied affordable housing needs of the City, pursuant to guidelines promulgated for this purpose by LAHD (Guidelines). The Guidelines and any amendments thereto shall be approved by the City Council by resolution. The Guidelines may include funding set-asides for the production and preservation of various levels of affordable housing (extremely low, very low, low, moderate, and workforce income households, including incomes up to 150% of Area Median Income) as those affordability levels are defined in the Guidelines.

(e) Any housing development projects receiving expenditures from the Fund that are 65 units or more and are new construction projects shall be required to utilize the Project Labor Agreement (PLA) required for projects funded with Proposition HHH bond proceeds.

(f) The General Manager of LAHD (General Manager) shall prepare and present to the City Council an annual report identifying all receipts into and all expenditures out of the Fund, as well as the purpose for which each expenditure was made pursuant to the Affordable Housing Linkage Fee Ordinance and the Guidelines. Each report shall cover a fiscal year and shall be submitted within 90 days after the close of that fiscal year.

Moreover, the General Manager shall establish an oversight committee for the Fund, comprised of designees of LAHD, the Office of the Chief Legislative Analyst, the Office of the City Administrative Officer, the Department of City Planning and the Mayor’s Office. The oversight committee shall provide opportunity for public input in the development of the General Manager’s annual report to Council. This annual report may include recommendations from the oversight committee regarding amending the fee amount in response to changing market conditions.

(g) The General Manager or the General Manager’s designee shall make recommendations to the City Council for expenditures from the Fund. No expenditure may be made from the Fund without the prior approval of the Mayor and City Council, unless otherwise authorized by the Guidelines.

(h) The Fund shall be interest bearing. Interest and any other earnings attributable to monies in the Fund shall be credited to the Fund and devoted to the purposes of the Fund.

(i) All monies loaned from the Fund shall be repaid to the Fund in accordance with the terms of the loan. The repaid principal and interest shall be placed in the Fund.

(j) Any gifts, contributions or other money received for the stated purposes of the Fund and accepted by the City in accordance with the Charter and Codes shall be placed in the Fund. Monies not expended from the Fund at the close of any fiscal year shall not revert to the Reserve Fund of the City, but shall remain in the Fund.

SECTION HISTORY

Chapter and Section Added by Ord. No. 185,341, Eff. 2-17-18. Amended by: Ord. No. 187,122, Eff. 8-8-21.

CHAPTER 177

ROAD MAINTENANCE AND REHABILITATION PROGRAM SPECIAL FUND

Section

(a) There is hereby created and established in the Treasury of the City of Los Angeles a special fund to be known as the “Road Maintenance and Rehabilitation Program Special Fund”, hereinafter referred to in this chapter as the Fund.

(b) The purpose of the Fund shall be for the receipt, retention and disbursement of funds received by the City of Los Angeles from the State of California’s Road Repair and Maintenance Account following the enactment of the Road Repair and Accountability Act of 2017.

(c) All monies in the Fund shall be expended exclusively for the purposes authorized by, and subject to, the provisions of California Street and Highways Code Section 2030.

(d) The Fund shall be administered by the Board of Public Works or its designee. Expenditures from the Fund shall be authorized by the Board of Public Works or its designee.

(e) All interest and earnings attributable to the monies in the Fund shall be credited to the Fund and shall be devoted to the purposes of the Fund.

(f) Pursuant to Charter Section 344(a), at the close of each fiscal year, monies not expended from the Fund shall remain in the Fund and shall not revert to the Reserve Fund.

SECTION HISTORY

Chapter and Section Added by Ord. No. 185,469, Eff. 4-22-18.