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Consent-General Government # 9.
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| Board of Supervisors Meeting |
County Administrator |
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| Subject |
| Approve resolution with proposed revisions to the Golden State Finance Authority Joint Powers Agreement to make it current and provide administrative clarity. (No general fund impact) (Blacklock) |
| Recommended Action |
| Approve resolution to adopt proposed revisions to the Golden State Finance Authority Joint Powers Agreement and authorize the Chair to sign the agreement. |
| Strategic Plan Goal(s) |
Champion job creation and economic opportunities
Collaborate to maximize success
Enhance and sustain the safety net |
| Reason for Recommended Action/Background |
On March 18, 2015, the Board of Directors of Golden State Finance Authority (GSFA), formally known as the California Home Finance Authority (CHF), a Joint Powers Authority of which Yolo County is a member, voted unanimously to approve proposed revisions to the Joint Powers Authority (JPA) Agreement. The JPA Agreement was last amended and restated December 10, 2014. The primary purpose of the proposed revisions are to formally change the name, modify the size of the Executive Committee and other matters.
Yolo County is a member of the JPA by their membership in the Rural County Representatives of California (RCRC). The purpose of the JPA is to provide financing for the acquisition, construction, improvement and rehabilitation of real property in accordance with applicable provisions of law for the benefit of residents and communities.
Following approval of the GSFA Board of Directors, the next step is for the revised Agreement to be provided to each Member County for review and approval by the Member County Board of Supervisors. These revisions are new and in addition to the revisions recently adopted by Member Counties in 2014.
The primary specific revisions to the Agreement are as follows:
- Formal name change to Golden State Finance Authority (GSFA)
- Amended and restated dates;
- Changing the number of members of the Executive Committee from nine (9) to no fewer than nine (9) and no more than eleven (11);
- Require that the Chair and vice Chair of the Authority shall serve on the Executive Committee; and
- Changing the word "such" to "other" in Section 7. h. for clarification.
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| Collaborations (including Board advisory groups and external partner agencies) |
| County Counsel |
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| Fiscal Impact |
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| Source of Funds for this Expenditure |
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