Sonora, CA — Mother Lode District Five Assemblyman Frank Bigelow has concerns about proposals up for debate at the state capitol aimed at increasing revenue for affordable housing programs.
Governor Jerry Brown and Democratic leaders have indicated that affordable housing is one of the top issues they want to address before the end of the current session.
One of the most high profile bills is SB 2, which would impose a $75 fee on documents such as real estate deeds and mortgage refinances, with a cap of $225 per transaction.
On Mother Lode Views this past weekend, Bigelow argued against the idea, saying, “Just imagine, for the most part, every house that transfers, you would wind up paying another couple hundred of bucks in fees. That money would go into a fund to create social housing.”
He also raised concerns about another proposal being floated, a multi-billion dollar bond to fund affordable housing efforts. Bigelow noted, “We don’t have enough money coming in to debt service what we have currently, and now we are wanting to take on more debt, which is not a good thing to do.”
Bigelow concluded, “I think we do have to recognize that we do need more homes, and we need to have more housing elements approved in order to have those things. But, because they are continuing to create more regulations, and make it harder and harder through the CEQA process, it is getting increasingly costly to have affordable housing.”
During Mother Lode Views, Bigelow also spoke about declining tree mortality funding, changes in education, the economy and the fire season. Click here to listen to the entire show.