Funding for Affordable Housing Headed for Vote in State Legislature

Host: Michael Krasny : kqed – excerpt (includes audio)
Guy Marzorati, reporter, KQED’s California Politics and Government Desk
Laura Foote Clark, executive director, Yimby Action
Tim Redmond, editor, 48 Hills.org
Fernando Marti, co-director, Council of Community Housing Organizations…

The California State legislature is set to vote on a package of affordable housing bills as early as this Friday. Among the bills is SB 35, which would streamline the approval process for development projects in cities that are not meeting regional affordable housing goals. Supporters of SB 35 say the measure is needed to tackle the state’s critical housing shortage. But opponents say the bill wrests control of housing policy from local governments and could actually make housing more expensive in low-income Bay Area neighborhoods. We take up the debate… Listen to the show here

RELATED:

Comments by Tim Redmond:

…SB 35, the Wiener bill that would promote more market-rate housing development in the mistaken belief that more luxury condos will bring housing prices down, will come to the Assembly floor any day now. Fernando Marti, co-director of the Council of Community Housing Organizations, and I were on KQED Forum Friday debating this bill with Laura Foote Clark, executive director of Yimby Action; you can listen to the show here

What I told Clark was that the whole premise of SB 35 is false. No housing gets built without financing, and most financing comes from investors who want the maximum rate of return. The private market right now will never build housing for the middle class. If you built so much that prices started to soften, that money would go elsewhere.

Much of the affordable housing that cities get comes from forcing developers into building more below-market units than they want. Take away that tool and you will get less affordable housing. Not surprisingly, the landlords and developers are among the biggest backers of this bill, and tenant and anti-eviction groups are against it(more)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s