Affordable Housing Bond Measure To Go Before Voters
Sacramento, CA — Democratic leaders in the state legislature announce that an agreement is in place to put a $4-billion affordable housing bond measure on the ballot.
It is expected to go before voters in November of 2018. Assembly speaker Anthony Rendon notes that $3-billion of the money would help subsidize low-income housing developments and $1-billion would go towards home loans for California Veterans. Â The Veterans loan program, operational for many years, is expected to exhaust all of its funding by next year.
The bond measure requires a 2/3 vote of the legislature, and leaders say the formal vote will be cast before the session ends on September 15.
Democratic leaders are still trying to garner votes to put a $75 fee on many real estate documents, with the funding also earmarked for affordable housing programs. It is part of a late legislative push to address affordable housing concerns in the state.
