AFFORDABLE HOUSING PLAN CONSIDERED

A significant amount of time was spent at the industrywide legislative meeting discussing issues related to affordable housing, and how our industry can work with policymakers to address funding issues.  Specifically the group discussed Speaker Toni Atkins (D-San Diego) effort to find a way for more affordable housing on a statewide basis.  She has introduced AB 1335 which seeks to create permanent funding for affordable housing through a new real estate fee and increasing tax credits to spur new building.

Although we are still seeking advice from our members on this measure, the group discussed changes to the bill that might address concerns our industry had last year on a similar bill.

As an industry we want to play a positive role in helping solve issues related to affordable housing in this state, and are amenable to several ideas that have been floated, but ultimately were unable to come to agreement on the measure last year.  We look forward to working with the Speaker on this issue this year, and hope we can be part of a positive solution that works for all parties.

Identifying statewide permanent funding sources to backfill the loss of redevelopment is a critical issue, especially because many local jurisdictions are actively pursuing fee and tax hikes on our industry locally to pay for affordable housing.  We hope a fair and comprehensive solution can be found.

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