Letter from Treasurer Ma

November 2019

Dear Reader,

Last month the State Treasurer’s Office (STO) allocated $1.8 billion in bonding authority and $88.2 million in federal tax credits to spur production of 6,442 units of affordable housing. This brings the number of units we have financed during the course of 2019 to 17,360.

But this month’s workforce housing news does not stop there. The Governor and Legislature, by approving the Assembly Budget Committee’s game-changing AB 101 legislation, allocated another $500 million to build still more affordable housing.

To get this financing to developers as quickly as possible and spur as much housing renovation and construction as I can, I recently shepherded through a corollary realignment of our regulations. We have also moved to accept applications for tax credits earlier than in previous years.

You can learn more details about all of this on page two.

To follow all the developments on affordable housing involving my office, I invite you to follow me on social media and the news posted to my website.

In Peace & Friendship,

Fiona
California State Treasurer