Housing Affordability In The Golden State
Government Affairs Tips & Trends
Thursday, May 5, 2016
by: Julianna Chick, California Strategies

Section: Committee Announcements

Housing Affordability in the Golden State
Housing continues to be a big issue here locally, as well as in Sacramento.  We know the situation all too well in San Diego, and the pressure that the high cost of living creates in the political realm.
For this legislative cycle, there continues to be a focus on providing significant resources to help address housing affordability, and more specifically, provide dollars to low income and homeless housing.
Late last month, the Assembly Committee on Housing and Community Development released a proposal for more than $1.3 billion in one-time surplus funding to help address these challenges. Included in the plan is:
  • $300 million for the Low Income Housing Tax Credit
  • $200 million for the Multi-family Housing Program
  • $200 million for local funding grants and workforce housing
  • $200 million for the CalHome program
  • $75 million for farmworker housing, including grants and tax credit programs
  • $60 million for seismic retrofitting
  • $300 million for housing assistance and production for homeless individuals and their families.
The Committee noted that funding for the development of affordable housing in California has significantly diminished since the elimination of redevelopment agencies in 2012. According to the committee, this plan represents a one-time investment in priority areas for individuals and families who are at-risk, or have already become homeless; the first step in offering relief to Californians up and down the State.
The primary authors of the plan, Assemblymembers Chiu and Thurmond have requested a hearing at the Assembly Budget Committee on their proposal next month. The Government Affairs Committee will consider a recommendation on the plan at their next meeting in May.  BOMA CAL is also looking at the proposal and will be discussing at their next convening.
If you have any questions about this budget proposal, please call our Legislative Advocates, Craig Benedetto or Julianna Chick at (619) 546-7451.