Earlier this month, the Governor and Leadership came together to announce their commitment to a package that included urgently needed affordable housing funding.
The Building Homes and Jobs Act (SB 2) was introduced by Senator Atkins (D-San Diego) to establish a permanent source of funding for affordable housing by imposing a $75 fee on real estate transaction documents, excluding residential and commercial property sales. It will build safe and affordable apartments and single-family homes for Californians in need, and generate hundreds of millions of dollars in state investment and leverage significant additional funding in federal, local, and private investment.
The Affordable Housing Bond Act (SB 3) was introduced by Senator Beall (D-South Bay/Silicon Valley) and gives voters the opportunity to authorize an affordable housing bond at the November 2018 ballot to create more affordable housing across the state. The programs in this bond specifically fund construction, rehabilitation, and preservation of housing for those at risk of or currently experiencing homelessness and low-income earners, as well as create more homeownership opportunities for low and moderate-income earners. Polling shows that voters support increasing SB 3’s investment in our communities, with a $6 – $9 billion bond.
While Californians across the state have demonstrated strong support for action and many lawmakers agree that our state must tackle our housing crisis, these bills require a 2/3 majority vote -- a challenging threshold, no matter the issue.
Now is the time to make sure your voice has been heard. The Nonprofit Housing Association has made this easy online form, so that you can email, tweet, or send a Facebook message directly to your Assemblymember.