“It was truly a historic legislative session,” said Michael Lane, policy director for the Non-Profit Housing Association of Northern California, which helped organize representatives from Residents United Network — all residents of affordable housing — to visit legislative offices beyond the Bay Area.
The funding will support a pipeline of planned affordable housing developments, and guidelines in the legislation will ensure that localities use the money for the intended purpose, Lane added.
The first funding measure, SB 2, imposes a $75 fee on real estate transaction documents starting next year, with the funds distributed to localities.
In 2018, half of that money must be dedicated to addressing homelessness, Chiu said.
“San Francisco, as a city and county, will have the freedom to prioritize funding decisions for that money,” Chiu said. The other half of the 2018 funds will go towards updating local planning and zoning ordinances to support faster, more streamlined affordable housing development.
While localities don’t have to build of all of that housing on their own dime, they are required to plan for it, said Lane…”
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