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SCG Awards $122 Million in Affordable, Transit-Friendly Housing Grants and Loans

First Round of Shovel Ready, Transformative Investment Projects to Combat Climate Change

July 2, 2015
The California Strategic Growth Council (SCG) on Tuesday approved $121.9 million in competitive grants and loans to 28 housing and transit-friendly infrastructure projects that reduce greenhouse gas emissions contributing to climate change.
 
 
The grants are part of the Affordable Housing and Sustainable Communities Program, which is being implemented by the Department of Housing and Community Development in coordination with SCG and California Air Resources Board. California Climate Investments are programs funded by the Greenhouse Gas Reduction Fund using proceeds from California’s Cap-and-Trade auctions.
 
These grants and loans help reduce greenhouse gas emissions by supporting more compact, infill development patterns, encouraging active transportation and transit usage, and protecting agricultural land from sprawl development. This year’s 28 recommended projects leverage nearly six to one in matching funds and will reduce an estimated 723,286 metric tons of greenhouse gas emissions — the equivalent to taking 140,483 cars off the road for one year.
 
Of the recommended projects, 52 percent include transit-oriented developments. This includes both housing and transportation capital improvements and at least one transit station or stop served by high-quality transit. More than $31 million in funding, or approximately 25 percent, supports bicycle and pedestrian infrastructure, transit station area improvements, transit service and other connectivity between housing and communities.
 
The selected projects represent dozens of diverse communities from all over California. In addition, 77 percent of this year’s recommended grants benefit disadvantaged communities. By law, at least 50 percent of funding must be dedicated to affordable housing and benefit disadvantaged communities. In addition, these recommended projects will support the development of more than 2,000 affordable housing units to support a range of incomes and populations across the state.
 
The full news release is available online.


 
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