 One thing you can say with confidence about the affordable housing industry and its colleagues - we never give up. Although several legislative measures to re-establish funding for affordable housing failed during last year's state budget battle, a new initiative is now underway that is strongly supported by Jamboree and more than 300 other organizations and individuals, known as The California Homes & Jobs Act of 2013, Senate Bill (SB) 391 is sponsored by long-time affordable housing advocate Senator Mark DeSaulnier, (D-Concord).
Funding for SB 391 would come from a $75 recordation fee on real estate transactions - excluding home sales. If enacted, it could create 29,000 jobs annually - primarily in construction - and generate an estimated $500 million in state "seed money" each year without creating new debt, and each year it would leverage an additional $2.78 billion in both federal and local funding as well as bank loans. The goal is to deploy these dollars in California communities through a successful private/public partnership model to create badly needed jobs, produce revenue for local governments, and build safe and affordable apartments and single-family homes for Californians.
Will you join all of us at Jamboree in support of this important initiative? With just a click:
 President, Jamboree |
