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Norco Housing Resources Evaluation Spurs the Creation of a Housing Task Force

By Dianna Dunne-Vecchio

In preparation for the 6th Cycle Housing Element, the City of Norco was in the process
of reviewing their existing housing programs and resources. To help City leaders create
a strategy that maximizes how funds and properties are leveraged to meet the City’s
housing goals while complying with the law, the City reached out to RSG for help.

RSG evaluated options for spending available housing funds and disposing of Housing
Successor properties within related legal restrictions based on Norco’s housing needs
and priorities, available assets, the estimated revenue stream from loans receivable,
review of existing housing programs, and available housing properties.

A comprehensive review was done of the City’s housing priorities, financial resources,
and existing affordable housing programs compliance with regulatory requirements.
RSG uncovered some key findings that served as the basis for expenditure strategy and
program recommendations, including the need for more housing options to address
aging population, aging housing stock, and cost burdened residents.

After consolidating our findings, we then aimed to identify the best methods to assist
with the development of affordable housing needs within the community that comply
with legally mandated expenditure requirements of the Housing Asset Fund. The City
has a lot of great options for increasing the supply of affordable housing in the
community using Housing Successor resources. RSG believed the best ways to
leverage Housing Asset Fund resources and address community needs was through
Notice of Funding Availability (“NOFA”), acquiring land and issuing Request for
Proposals (“RFP”), preserving Naturally Occurring Affordable Housing (“NOAH”),
modifying existing programs, and acquiring covenants on a proposed project.

RSG’s analysis and recommendations led Norco to form a Housing Task Force to
specifically address their housing issues and delve into the options RSG provided to
better serve their community’s needs.