boomerang funds

November 20, 2013

Local Funding Campaigns

When the governor eliminated California Redevelopment Agencies (RDAs) in December of 2011, local jurisdictions lost the single, largest source of state funding for affordable homes - $1 billion dedicated dollars each year. To counter this, NPH works with Bay Area cities and counties to create alternative funding sources that allow jurisdictions to leverage state and federal dollars to build the affordable homes their communities so desperately need.
February 22, 2016

NPH Co-Sponsors Oakland Boomerang Fund Bill

NPH is co-sponsoring AB 2031 (Bonta), a bill to address the growing housing crisis by allowing a city to issue bonds serviced by “boomerang funds”—funds returned to the city through the dissolution of redevelopment agencies. We appreciate Assemblymember Bonta’s vital efforts as well as the support given by Oakland Mayor Libby Schaaf.   Please read the press release below for more details:   FOR IMMEDIATE RELEASE: February 16, 2016 CONTACT: Amy Alley, (916) 319-2387,   City of Oakland, Bonta Offer New Tool to…
March 3, 2016

Support Letters Needed for NPH-sponsored AB 2031!

Support letters needed now - AB 2031 speeds up the process to construct desperately needed affordable housing by allowing a city to issue bonds serviced by “boomerang funds”.
March 3, 2016

City of Oakland, Bonta Offer New Tool to Build Affordable Housing

(Sacramento, CA) – Assemblymember Rob Bonta (D-Oakland) today introduced AB 2031 to empower California cities with a new tool to address the growing affordable housing crisis. The bill is sponsored by the City of Oakland.   “The affordable housing crisis affects everyone—from children, workers, and veterans to college students and seniors,” explained Assemblymember Bonta. “Far too many of California’s working families are spending more than half of their income on housing, sometimes leaving them forced to choose between a roof…