California’s election could bring $6 billion to its affordable housing market

SAN FRANCISCO (CBS SF) — The San Francisco Board of Supervisors Tuesday voted to place an affordable housing bond on the November ballot, city officials said. Supervisors voted unanimously on a $600 million bond, which would allow for the construction of about 2,800 affordable housing units that could be started in the next four years.

August 21, 2017 12:01 AM. Democratic state lawmakers aiming to ease California’s housing shortage say they are focused on three bills they estimate would generate $20 billion for affordable housing development over the next five years and lead to 70,000 new low-income apartments.

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Expanding affordable housing partnerships The Portland, Oregon Housing Bureau has set a June 28 th deadline to apply for $77 million for new construction projects, property acquisitions & the rehabilitation of existing buildings for affordable housing. Some $70 million of the available funds come from a property tax levy dedicated to housing that was overwhelmingly approved by city voters in 2016.

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An act to add Part 16 (commencing with Section 54000) to Division 31 of the Health and Safety Code, relating to housing, by providing the funds necessary therefor through an election for the issuance and sale of bonds of the State of California and for the handling and disposition of those funds, and declaring the urgency thereof, to take effect immediately.

USDA says earlier this year it surpassed the $1 billion milestone for investments through the multi-family housing loan guarantee Program to create and preserve affordable rural rental housing and, in 2016, invested $74 million to build and preserve 2,765 affordable rural rental apartments nationwide. . .

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Failed liberal policies have 'encouraged' the homeless crisis in California: Zeiter  · California desperately needs affordable housing.. given that affordable housing costs about as much to build as market-rate housing.. The state could get considerably more for its housing.

 · According to a draft budget obtained by Politico, President Donald Trump plans to cut roughly $6 billion from HUD’s budget for fiscal year 2018. The new budget could significantly impact.

Apple just made $88 billion. It’s paying $6 million for housing. In its agreement with Cupertino to develop Apple Park, the company paid $5.85 million into an affordable housing fund – double what was required by the city. It also invested $75 million to improve infrastructure and ease traffic in several nearby cities.

Want to spend $4 billion to help veterans and low-income Californians get access to home loans and lower-cost housing?. shortage of affordable housing in California is a long-term drag on.