SACRAMENTO, Calif., May 12, 2023 /PRNewswire/ — Our coalition of California’s leading affordable housing, homelessness, and housing justice organizations, of which Housing California is a member, appreciate the Newsom administration’s values-driven May Revision that maintains the critical housing and homelessness commitments from last year’s budget. The Revision articulates the Governor’s continued commitment to the most pressing issues facing our state, including homelessness and housing affordability, and deference to sobering projections of an economic downturn.
The Administration’s proposal maintains $1 billion for the Homeless Housing, Assistance and Prevention Program, $500 million continued annual investment in the state Low-Income Housing Tax Credit program, $225 million for the Multifamily Housing Program, $100 million for the Portfolio Reinvestment Program, and $50 million for the Joe Serna, Jr. Farmworker Housing Grant Program. These programs have a proven track-record of addressing housing affordability and homelessness across California.
We encourage the Governor and Legislative leadership to finalize a budget that includes ongoing, significant resources like those included in the Senate Budget Plan released last week and in our comprehensive coalition investment strategy for affordable housing production, preservation, and tenant stability. The Senate Budget Plan builds on the Governor’s proposal and would provide additional resources for key programs, including ongoing investment in homelessness and resources for key housing production programs. Notably, that Plan provides $1 billion in ongoing funds to support the Homeless Housing, Assistance and Prevention Program, $1 billion towards the state Low-Income Housing Tax Credit Program, and an additional $300 million flexible funding for affordable housing production programs.
To protect the progress made from past investments and to build upon our efforts in an uncertain and constrained economic climate, the Administration and Legislature must invest additional resources to prevent our housing and homelessness crisis, and its disproportionate impact on people of color, from worsening.
Now is the time to build on our momentum in securing a more stable and affordable California. Our coalition stands fully committed to advocating for the full spectrum of housing and homelessness programs as a package, and we are eager to work with the Administration and the Legislature to seek collaborative and creative approaches for this and future years, including a statewide housing bond and by exploring new, dedicated revenue sources to provide long-term funding solutions to our affordable housing and homelessness crisis.
Contact: Unai Montes, [email protected], 310.962.7369 (Bilingual)
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SOURCE Housing California