Sacramento, CA – Ray Pearl, Executive Director of the California Housing Consortium, and Shamus Roller, Executive Director of Housing California, issued the following joint statement upon Legislature’s passage of the 2014/15 budget.
“Today’s announcement of a $65 million investment of cap and trade revenue to develop affordable homes near transit in this year’s budget, and 10 percent of overall revenue thereafter is welcome news for hundreds of thousands of California families who are priced out of homes in California, and for the businesses that recognize that the development of affordable homes near jobs is imperative for California’s economic competitiveness.
“Investing cap-and-trade funds in homes affordable to people on modest budgets near transit will provide significant greenhouse gas reductions for our state, while also enabling more families to give up driving, helping them save money on both transportation and housing.
“An additional dedication of $100 million of 2014-15 General Fund dollars to the Multifamily Housing Program (MHP) and the MHP – Supportive Housing Program will keep California affordable home builders working in the coming year to provide safe and affordable homes and to keep our economy moving. With the elimination of redevelopment and voter-approved housing bonds exhausted, these General Fund dollars are a critical piece of the comprehensive solution California needs to address the shortage of one million homes affordable to struggling families through an ongoing funding source such as SB 391, the California Homes and Jobs Act.
“We applaud Speaker Atkins, Senate President pro Tempore Steinberg and President-elect Kevin de León for their leadership in ensuring families who struggle to find affordable homes can take part in California’s economic recovery. We call on Gov. Jerry Brown to sign these budget measures.”