Section 62505 - [Effective 1/1/2025] Formation and governance of regional housing authorities(a)(1) Except as provided in Section 62505.1, two or more local governments may establish a regional housing authority pursuant to this title.(2) The authority shall be governed by a board established pursuant to Section 62506.(b) The authority shall be a separate legal entity from the local governments that establish the authority.(c) The formation and jurisdictional boundaries of the authority are not subject to the Cortese-Knox-Hertzberg Local Government Reorganization Act of 2000 (Division 3 (commencing with Section 56000) of Title 5).(d) An authority's purpose is to raise, administer, and allocate funding and provide technical assistance at a regional level for affordable housing development, including new construction and the preservation of existing housing to serve a range of incomes and housing types, including rental and owner-occupied housing. It is the intent of the Legislature that an authority help the region accommodate and meet its existing and projected housing needs for extremely low, very low, low-, and moderate-income households, and further the objectives of subdivision (d) of Section 65584.Added by Stats 2024 ch 767 (SB 440),s 1, eff. 1/1/2025.