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.