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November 20, 2013
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 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, amy.alley@asm.ca.gov City of Oakland, Bonta Offer New Tool to…
March 3, 2016
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
(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…
July 12, 2016
We are pleased to report that, on July 1, Governor Brown signed into law SB 873 (Beall). This legislation increases the value of the State Low Income Housing Tax Credit by allowing credits to be “certificated” by nonprofit affordable developers. The legislation was cosponsored by State Treasurer John Chiang and the California Housing Partnership Corporation (CHPC) and supported by NPH. Find details here Governor Brown also signed into law AB 1618, the legislative vehicle for Senate President pro Tem Kevin…
August 23, 2016
Yesterday, the Senate approved AB 2031 (Bonta and Atkins), legislation that would authorize local jurisdictions to issue affordable housing bonds against the revenue stream of "boomerang funds," the "net available revenues" received by cities and counties after the dissolution of redevelopment.