California Housing Package

The California affordable housing supply crisis has prompted action from lawmakers in Sacramento.  A package of bills related to housing, which includes SB 2, SB 3, and SB 35, has passed though the California State Assembly.  These bills will now move to the California State Senate and are expected to be signed by Governor Jerry Brown.

SB 2: Recording fee, and permanent funding source for affordable housing.

SB 2 will impose a $75 recording fee for every real estate document needed in a real estate transaction. This fee is capped at $225. The funds from this fee will be used as a permanent funding source for affordable housing.  Some of the funds will be provided to local governments, and some will be used by the state to combat homelessness and create lower income residential housing.  Read More Here

SB 3: Veteran and affordable housing bond.

SB 3 will place a $4 billion bond on the November 6, 2018 ballot.  This bond would be used to fund various housing programs.  Read More Here

SB 35: Streamlining the housing development process.

SB 35 has 2 parts.  The first part would impose an additional reporting requirement on cities for the housing element portion on their general plan.

The second part would allow a development to avoid the local planning process if that development met certain requirements.  These requirements include a specified amount of affordable units.  If these requirements were met, a city would not be able to impose additional requirements such as parking.  Read More Here.

All of these bills have been met with significant opposition due to the increased burden on taxpayers, and removing of some local control.  As is, however, supporters include the California Association of REALTORS(R), the California Apartment Association, and the California Building Industry Association.  Supporters cite the desperate need for housing in California.

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