In implementing this title, the authority may do all of the following:

(a) Subject to the approval of the executive board, place one measure per election on the ballot to raise revenue and allocate funds throughout the San Francisco Bay area, as provided in Part 2 (commencing with Section 64600).

Terms Used In California Government Code 64520

  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18

(b) Apply for and receive grants or loans from public and private entities.

(c) Solicit and accept gifts, fees, grants, loans, and other allocations from public and private entities.

(d) Deposit or invest moneys of the authority in banks or financial institutions, as provided in Chapter 4 (commencing with Section 53600) of Part 1 of Division 2 of Title 5, including the investment of any money that is not required for the immediate necessities of the authority, as determined by the authority.

(e) Sue and be sued, except as otherwise provided by law, in all actions and proceedings, in all courts and tribunals of competent jurisdiction.

(f) Engage counsel and other professional services.

(g) Enter into and perform all necessary contracts.

(h) Enter into joint powers agreements pursuant to the Joint Exercise of Powers Act (Chapter 5 (commencing with Section 6500) of Division 7 of Title 1).

(i) Hire staff, define their qualifications and duties, and provide a schedule of compensation for the performance of their duties.

(j) Utilize staff employed by the Metropolitan Transportation Commission.

(k) Allocate and deploy capital and generated fees or income in the form of grants, loans, equity, interest rate subsidies, and other financing tools to the cities, counties, other public agencies within the San Francisco Bay area, private affordable housing developers, and nonprofit corporations organized pursuant to Section 501(c)(3) of the Internal Revenue Code to finance affordable housing development, preserve and enhance existing affordable housing, and fund tenant protection programs, pursuant to this title, in accordance with applicable constitutional requirements.

(l) Establish and modify the terms of potential capital investments deployed by the authority, including waiving or forgiving interest or principal payments.

(m) Collect data on housing production and monitor progress on meeting regional and state housing goals.

(n) Provide support and technical assistance to local governments in relation to producing and preserving affordable housing and providing tenant protections.

(o) Provide public information about the authority’s housing programs and policies.

(p) Incur and issue bonds and other indebtedness, and otherwise incur liabilities or obligations in accordance with Article 3 (commencing with Section 64630) of Chapter 2 of Part 2, and issue mortgage revenue bonds pursuant to Part 5 (commencing with Section 52000) of Division 31 of the Health and Safety Code.

(q) Acquire, hold, develop, operate, and dispose of real property, including residential real property.

(r) (1) Create one or more California limited liability companies of which the authority is the sole member and exercise any of the powers granted to the authority by this title through those limited liability companies.

(2) Any limited liability company created pursuant to paragraph (1) shall be subject to the to the Ralph M. Brown Act (Chapter 9 (commencing with Section 54950) of Part 1 of Division 2 of Title 5), the California Public Records Act (Division 10 (commencing with Section 7920.000) of Title 1), and the Political Reform Act of 1974 (Title 9 (commencing with Section 81000)).

(s) Any other implied powers necessary or incidental to carry out the intent and purposes of this title.

(Amended by Stats. 2023, Ch. 758, Sec. 3. (AB 1319) Effective January 1, 2024.)

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