Currently the way it's being conceived of is as an independent secretariat. The UNHCR would host that secretariat until someone else stepped up to take it over. It's supposed to be independent from the member states because there's supposed to be some kind of element of oversight, so there needs to be some independence or separation from the member states.
At the moment, there is no funding allocated for it. There would need to be a donor who would step up to do that.