CA SB1177

Authorizes the Cities of Burbank, Glendale, and Pasadena to form the Burbank-Glendale-Pasadena Regional Housing Trust, a joint powers authority, to fund housing for homeless and low-to-moderate income populations.

Allows the Housing Trust to fund planning, acquisition, and construction of housing including permanent supportive housing, receive public and private financing, and issue bonds and other debt instruments.

Establishes governance through a board of directors with a minimum of three members (elected officials equally appointed by each city), serving two-year terms without compensation but eligible for expense reimbursement.

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

Applies regulatory guidelines specific to each state funding source received by the Housing Trust.