California Governor Signs Long-Awaited Affordable Housing Bills into Law
Several bills targeting the affordable housing crisis in California were signed into law by Governor Jerry Brown, according to a report by the Mercury News.
The 15 bills aim to attack the growing real estate crisis from multiple different angles. Two of the bills will generate funding to construct more below-market-rate housing options. Others are aimed at smoothing the notoriously arduous process of getting government approval for the development of new homes.
One bill, Senate Bill 3 by Sen. Jim Beall, D-Campbell, also added a $4 billion affordable housing measure to the November 2018 ballot. If it is approved, the bond would help to generate $20 billion of funding for the construction of affordable housing. Senate Bill 2, by Sen. Toni Atkins, D-San Diego, creates a funding source to address the issue of homelessness in California. Senate Bill 35, by Sen. Scott Wiener, D-San Francisco, is targeted at cities that fall short of building enough homes to meet regional demand, requiring them to give the go-ahead to housing developments that are in line with the bill’s criteria.
Lawmakers stress that while this series of bills is a victory in the crisis of affordable housing in California, the work is far from over. The measures outlined in the bills will need to be executed effectively in order to create real and lasting change.