2003-036- Supporting The National Housing Trust Fund Act Of 2003RESOLUTION 2003 - 36
RESOLUTION BY THE TOWN COUNCIL OF THE TOWN
OF LOS GATOS SUPPORTING THE
NATIONAL HOUSING TRUST FUND ACT OF 2003
WHEREAS, 5.4 million households in the United States are in worst
case housing or are paying more than 30% of their income according to the United
States Department of Housing and Urban Development (HUD); and
WHEREAS, 3.5 million people, including 1.35 million children, will experience
homelessness in the United States this year according to the Urban Institute; and
WHEREAS, in Santa Clara County, an extremely low income household
(earning $28,800, 30% of the Area median income of $96,000) can afford a monthly rent of no
more than $720, while the Fair Market Rent for a two bedroom unit is $1,760 /month; and
WHEREAS, a worker in Santa Clara County must earn $33.85 per hour working
40 hours per week to afford a two bedroom unit. This is 501 % of the present $6.75 minimum
wage. A worker at minimum wage would have to work 201 hours /week to afford a two - bedroom
unit; and
WHEREAS, the National Affordable Housing Trust Fund proposes to create,
rehabilitate, and preserve 1.5 million units of affordable housing over the next 10 years; and
WHEREAS, 75% of the Trust Fund is targeted to assist households with incomes
less than 30% of the median income; and
WHEREAS, the Town of Los Gatos recognizes the need for additional funding
resources for more affordable housing units.
NOW THEREFORE, BE IT RESOLVED, that the Town of Los Gatos
reaffirms the importance and need for affordable housing and supports the National Affordable
Housing Trust Fund Act of 2003.
PASSED AND ADOPTED at a regular meeting of the Town Council of the
Town of Los Gatos, California, held on the 21 day of April, 2003 by the following vote:
COUNCIL MEMBERS:
AYES: Steve Glickman, Diane McNutt, Joe Pirzynski, Mike Wasserman,
Mayor Sandy Decker
NAYS: None
ABSENT: None
ABSTAIN: None
SIGNED:
MAYOR F THE TOWN OF LOS GATOS
LOS GATOS. CALIFORNIA
ATTEST:
CLERK OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA