From what we can tell based on the press conference this week, the governor’s budget assumes the Low and Moderate RDA Housing Funds (L&M) will be swept to local taxing entities. We’re working on a back-up plan with the State Assembly to preserve at least the amount needed for development in 2012-13 and, hopefully, 2013-14. To determine these figures, we need additional information from any organizations with threatened projects.
1. For those who haven’t given us a dollar figure (of needed L&M funds), what is their best guess of the amount?
2. What is their best estimate of when they needed the funds – before July 2013? Before July 2014? Or after July 2014?
Please send any information from your organization of threatened projects to email@example.com
With the passage of last year's AB 26x, all of California's redevelopment agencies dissolved on February 1, 2012. Many agencies still have balances in their Low and Moderate Income Housing Funds (the 20% of redevelopment funds designated for affordable places to live). AB 1585 (Perez) and SB 654 (Steinberg) specify that the balances in the Low and Moderate Income Housing Funds shall be used for housing construction and other housing-related purposes.
We also need to convince Senate President pro Tem Darrell Steinberg to move legislation to the governor that protects the unencumbered balances in former redevelopment agencies’ low-mod housing funds. If you are an individual/organization with developments that may be affected, we urgently need you to ask your local State Senators to save these low and moderate income housing funds that create jobs and build affordable places to live. Specifically, we are asking the Executive Director of each organization with a threatened project(s) to make a call to their State Senators in support of AB 1585 and SB 654.
Please contact Robert Dhondrup at SCANPH at firstname.lastname@example.org if you need to find out who your State Senator is and get a copy of talking points to make your calls.