CA AB448

Authorizes Orange County and its cities to create the Orange County Housing Finance Trust, a joint powers authority to fund housing for homeless populations and extremely low, very low, and low-income households.

The Trust shall be governed by a board of elected officials from Orange County and participating cities.

Authorizes the Trust to fund planning and construction of all housing types including permanent supportive housing, receive public and private financing, and issue bonds and debt instruments.

Requires the Trust to incorporate annual financial reporting and auditing requirements into its joint powers agreement to maximize transparency and public information regarding fund receipt and use.

Clarifies that the Trust does not regulate land use, serve as housing owner/operator, levy fees or exactions on development projects, or authorize inclusionary zoning requirements.