With the start of a new year just weeks away, there is much anticipation 2018 brings for the affordable housing world in California.
For the first time in years, we start out with new tools and funding that will make building affordable homes for families, seniors and veterans a greater reality. Yes, the details of how to make these tools work and implementation guidelines for some of our policies still must be hammered out. Still, the unease I wrote about a year ago has been replaced with eagerness to put our accomplishments – SB 2, AB 1505, AB 1397 just to name a few – into action.
We also look ahead to getting the Veterans and Affordable Housing Bond Act, commonly known as SB 3, passed by voters in 2018. With more than 60% of likely voters already supportive, this will be another key opportunity for CHC to show the strength of our leadership and collaboration.
I’d be remiss if I didn’t mention the tax bill discussions happening in Washington, D.C. now that diminishes our cheer and brings some uncertainty to future planning. As of this writing, we continue to closely monitor how the House and Senate tax plans will come together. CHC’s federal advocacy team is tirelessly working to educate our representatives on why Private Activity Bonds and housing tax credits are the foundation of financing and developing affordable housing across California. Thank you to all of our members who have picked up the phone, sent emails or Tweets and shared how projects would be devastated by the House plan to eliminate PABs.
As we gear up for the year ahead and close out our 20th anniversary, let me again say how grateful I am for your commitment to CHC, and even more importantly, for putting affordable homes in reach for low- and moderate-income Californians.
Sincerely,
Ray Pearl
CHC Executive Director
