Sen. Jim Beall’s (D-San Jose) measure recognizes the housing crisis and the critical role that the state must play in finding solutions. If approved, the bond would be placed on the November 2018 ballot.
It is well past time to restore funding for affordable housing in California. The state’s future depends on it and the Legislature has not developed a plan to address this mounting crisis. The League is supporting SB 879 because it funds a variety of existing state programs such as Multifamily Housing, CalHome, and Transit-Oriented Development.
Cities are in dire need of assistance. The Proposition 64 and Prop. 1C funds have been spent, $1.5 billion in annual redevelopment funding has been taken away and between 2005–15 federal investments in critical housing programs were reduced 50 to 77 percent.
The housing shortage has resulted in skyrocketing rents and home prices well above the national average, while also playing a role in the state’s homeless population, climbing to 116,000 after years of progress.
For more information, please see “Sen. Beall’s $3 Billion Housing Bond Still in Play as Session Winds Down,” CA Cities Advocate
, Aug. 18, 2016.