California lawmakers send affordable housing fix to governor

It includes a $4 billion bond that would go on the 2018 ballot and $1 billion of that money would go to housing programs for veterans. (Sep. 15, 2017)

The California Legislature has sent a package of bills aimed at addressing California's growing affordable housing to Democratic Gov. Jerry Brown, who plans to sign it.

A deal passed by lawmakers Friday includes a $4 billion bond for housing projects; a $75 fee on real estate transaction documents to fund subsidized housing; and streamlined regulations that create hurdles for developers looking to build low-cost housing.

California lacks an estimated 1.5 million affordable housing units compared to demand - a situation that is contributing to the growth of the homeless population.

On Wednesday, Anaheim became California's latest city to declare homelessness an emergency.

Collection of the real estate fee would begin immediately, generating $200 to $300 million a year. The $4 billion bond needs approval from voters next year.

© 2018 KXTV-TV


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