Isn't it about time we had affordable housing in California?
This affordable housing crisis is driving everyone crazy. Sure we have a great and growing economy, but when you have to commute three hours to get to work there's a problem. California has 12% of the nation’s population but 20% of the homeless population. This bill replaces the almost $1 billion in funding from local agencies for housing that all but dried up when the RDAs dissolved. New building and revitalization will focus on providing housing for those who are moderate to very low income. 50% will be focused on low income and 25% on extremely low income. 50% of this funding will be allocated at the state level while the other 50% will be allocated to local agencies to finance housing development projects. This bill will provide a massive boost to the construction industry from new projects. It will loosen the extremely tight housing supply. Opposing views prefer to deregulate the housing industry in California, but new developments will not be middle and low income housing.