Save Redevelopment's Housing Funds!
With the passage of last year's AB 26x, all of California's redevelopment agencies are scheduled to dissolve on February 1, 2012. Many agencies still have balances in their Low and Moderate Income Housing Funds (the twenty percent of redevelopment funds designated for affordable housing).
SB 654 (Steinberg) would specify that the balances in dissolving redevelopment agencies’ housing funds shall be used for housing construction and other housing-related purposes This bill clarifies conflicting provisions of last year’s AB 26x and has received unanimous bi-partisan support thus far.
from Housing California!
