League of California Cities Supports the Affordable Housing Bond
Mar 4, 2018
The bond will generate $4 billion for affordable housing programs, infill infrastructure projects and the veterans’ homeownership program. The Legislature placed the bond on the ballot through the passage of League-supported SB 3 (Beall) last September.
If approved by voters in November, the Veterans and Affordable Housing Bond will fund a number of programs and breathe new life into existing housing programs that have proven, over the years, to be effective. California cities are eager to access much needed affordable housing funding to jumpstart construction.
Programs that would be funded under the bond include:
SB 3 was part of the League’s Blueprint for More Housing, which comprised several 2017 bills designed to jump start the development of more affordable housing units through streamlined regulations and new funding sources. These also include SB 2 (Atkins), which is projected to generate millions of dollars annually for affordable housing, emergency shelters and other housing needs and League-sponsored SB 540 (Roth), which streamlines the housing approval process in Workforce Housing Opportunity Zones. Gov. Jerry Brown signed those bills on Sept. 27, 2017 as part of a 15 bill housing package approved by the Legislature.
To help cities navigate the new housing laws that went into effect on Jan. 1, the League prepared a comprehensive compendium that is available at www.cacities.org/2018HousingLaws.
How to Support the Housing Bond
Cities and city officials may consider supporting the Housing Bond on the November 2018 statewide ballot. The League has prepared a toolkit cities can use. Items include:
If approved by voters in November, the Veterans and Affordable Housing Bond will fund a number of programs and breathe new life into existing housing programs that have proven, over the years, to be effective. California cities are eager to access much needed affordable housing funding to jumpstart construction.
Programs that would be funded under the bond include:
- Multifamily Housing Program — $1.5 billion
- Transit-Oriented Development Implementation Program — $150 million
- Infill Incentive Grant Program — $300 million
- Joe Serna, Jr. Farmworker Housing Grant Fund — $300 million
- Local Housing Trust Fund Matching Grant Program — $300 million
- CalHome Program — $300 million
- CalVet Home Loan Program —:$1 billion
- Self-Help Housing Fund — $150 million
SB 3 was part of the League’s Blueprint for More Housing, which comprised several 2017 bills designed to jump start the development of more affordable housing units through streamlined regulations and new funding sources. These also include SB 2 (Atkins), which is projected to generate millions of dollars annually for affordable housing, emergency shelters and other housing needs and League-sponsored SB 540 (Roth), which streamlines the housing approval process in Workforce Housing Opportunity Zones. Gov. Jerry Brown signed those bills on Sept. 27, 2017 as part of a 15 bill housing package approved by the Legislature.
To help cities navigate the new housing laws that went into effect on Jan. 1, the League prepared a comprehensive compendium that is available at www.cacities.org/2018HousingLaws.
How to Support the Housing Bond
Cities and city officials may consider supporting the Housing Bond on the November 2018 statewide ballot. The League has prepared a toolkit cities can use. Items include:
- Sample resolution;
- Sample press release announcing passage of resolution; and
- Sample social media posts cities can also use to inform their local media and residents about the action.