January 10, 2019
Contact: Sarah Jimenez, 916-444-7614

CHC EAGER TO ADVANCE SHARED HOUSING GOALS & POLICIES IN GOVERNOR NEWSOM’S STATE BUDGET

Leading Statewide Housing Organization Agrees Expansion of Low Income Housing Tax Credit and $1.3 Billion are Vital to Provide the Affordable Housing Families Need Now

Sacramento, CA – The California Housing Consortium (CHC) released the following statement from Executive Director Ray Pearl following Governor Gavin Newsom’s release of the proposed 2019-20 State Budget today:

“It’s a new day in California with a Governor eager to aggressively tackle California’s housing crisis and elevate the strategic mix of solutions members of the California Housing Consortium have fought for to get families into the affordable homes they need now.

“We are thrilled to see the Governor keep his commitment to ambitious affordable housing production goals and readiness to make the significant investments required, including $1.3 billion from the General Fund and expansion of the Low Income Housing Tax Credit. This tax credit makes it possible for people on limited incomes to have an affordable home by incentivizing private investment and leveraging additional federal resources into low-income housing development.

“We look forward to working with the Governor and Legislature to achieve our shared affordable housing goals and provide the stable homes that will lift Californians out of poverty and build strong communities.”

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