Bill proposed for building more affordable homes in California

Senators Jim Beall and Mike McGuire are advocating for a comprehensive policy and funding legislation focused on housing that is affordable for seniors, nurses, teachers, veterans and low and middle income Californians. They have proposed a series of bills to address the state’s affordable housing crisis.

The first bill – SB 5 – is focused on funding that will build affordable housing for working families and seniors and revitalize neighborhoods in communities big and small in every corner of the Golden State.

One of the hallmark bills of McGuire and Beall’s housing legislation will launch an updated approach to the funding for local governments that was lost with the dissolution of redevelopment agencies – which at the time was the largest single source of funds for affordable housing.

Beall and McGuire’s bill – The Affordable Housing and Neighborhood Revitalization Act – will support affordable housing, transit-oriented development, strong neighborhoods, and resiliency from sea-level rise, while providing rigorous state oversight and tax payer protections to ensure that affordable housing construction occurs quickly and local governments are accountable for the expenditure of funds.

“All across our state, from rural cities of the North Coast to the bustling suburbs of greater Los Angeles, every community is facing an affordable housing crisis,” Senator Mike McGuire said in a statement. “Our affordable housing bills will help working families and seniors live and thrive in the communities they call home by providing funding and innovative solutions to one of this state’s most significant challenges. Senator Beall and I look forward to continuing to work with residents and community leaders across California on this critical legislation in the months to come.”