SUPPORT HOMEOWNERSHIP FOR ALL CALIFORNIANS
The Legislature has a historic opportunity to invest in California families of all backgrounds by funding more housing for homeownership. The 2021-2022 State Budget should include:
Ensure the new California Dream for All tax credit program also applies to new construction of owner-occupied units and to qualified non-profit developers building and providing interest-free loans to low and moderate income families.
$200 million for the CalHome program to increase development and acquisition rehabilitation of affordable homeownership projects.
Allocate 20% of the Governor’s proposed $9.3 billion in affordable housing funding to affordable owner occupied workforce housing developments to provide long-term housing stability.
Coalition Sends Letter Requesting Budget Investments to Build More Housing and Combat Disparities in Homeownership
On behalf of Habitat for Humanity California, California Association of Realtors (CAR), The Two Hundred, San Francisco Bay Area Planning and Research Association (SPUR), LISC San Diego, National Association of Hispanic Real Estate Professionals (NAHREP), the California Building Industry Association (CBIA), Housing Action Coalition (HAC), and the Black Leadership Council (BLC) we respectfully request that the 2021-2022 State Budget prioritize homeownership funding as it has homelessness and rental funding, to support the full continuum of necessary housing options for Californians. The California Dream for All, in the Senate’s Build Back Boldly blueprint is a good start, however, that program does not address the root cause of the affordability crisis in California – the supply shortage – and cannot fully provide relief without additional funding to support ownership construction. Full letter here.