Major Housing Package Signed by Gov. Brown

Major Housing Package Signed by Gov. Brown

Governor Jerry Brown signed three significant housing bills: SB 2 (Atkins), which is anticipated to provide $250 million in financing for building affordable housing. The bill, which the Chamber supported in this version and its previous iteration in prior sessions, required a two-thirds majority to pass and ultimately received the required number of votes, signaling a promising step in addressing the state’s housing crisis. Additionally, SB 3 (Beall) was passed out of the Assembly and will place a $4 billion bond on the 2018 ballot statewide for low-income home building. It is important to note that these proposals are partially in response to the lack of funding for affordable home that until 2013 was steadily funded by redevelopment agencies.