Cal. Government Code - GOV § 64720. Section 64720.
In implementing this title, the agency may do all of the following:
(a)
Place on the ballot in Los Angeles County, including all of its incorporated cities, funding measures, in accordance with applicable constitutional and statutory requirements, to raise and allocate funds to Los Angeles County, the cities in Los Angeles County, and other public agencies and affordable housing projects within its jurisdiction for purposes of preserving and enhancing existing housing, funding renter protection programs, and financing new construction of housing developments that are 100 percent affordable to households earning 80 percent of the relevant area median income or below, with a priority on the lowest levels of affordability.
(b)
Apply for and receive grants from federal and state agencies.
(c)
Incur and issue indebtedness and assess fees on the purchaser of any debt issuance and agency loan products for reinvestment of those fees and loan repayments in affordable housing production and preservation in accordance with applicable constitutional requirements.
(d)
Incur debt and issue bonds and otherwise incur liabilities or obligations in accordance with Article 2 (commencing with Section 64820) of Chapter 2 of Part 2, and in accordance with applicable constitutional requirements.
(e)
Solicit and accept gifts, fees, grants, and other allocations from public and private entities.
(f)
Deposit or invest moneys of the
agency in banks or financial institutions in the state.
(g)
Sue and be sued, except as otherwise provided by law, in all actions and proceedings, in all courts and tribunals of competent jurisdiction.
(h)
Engage counsel and other professional services.
(i)
Enter into and perform all necessary contracts.
(j)
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).
(k)
Hire staff, define their qualifications and duties, and provide a schedule of compensation for the performance of their duties.
(l)
Land bank, assemble parcels, and lease,
purchase, or otherwise acquire land for housing development. Sell or dispose of land or assets consistent with the agency’s purpose and eligible activities or where a parcel under the agency’s control is deemed to be inappropriate for housing development.
(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.
(o)
Provide public information about the agency’s housing programs and policies.
(p)
Act in compliance with the Marks-Roos Local Bond Pooling Act of 1985 (Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1).
(q)
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 and other public agencies within the Los Angeles County area, and private affordable housing developers 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.
(r)
Collaborate with staff employed by the Los Angeles Metropolitan Transportation Authority with shared planning and services.
(s)
Any other express or implied powers necessary to carry out the intent and purposes of this title.