Policy & Legislation
Prop. 1C Bill Part of Senate Jobs Package
February 26, 2010
As part of a 28-bill package designed to spur job creation, a Bay Area legislator on February 5, 2010, introduced a measure to appropriate some Proposition 1C funds and shift other 1C funding between programs. Housing California has not yet taken a position on the measure, but is working to secure various amendments.
SBx8 28 by Senator Leland Yee (D-San Francisco) is part of the eighth extraordinary session called by the governor to address the state's mid-year budget shortfall. (The "x8" in the bill number refers to the eighth extraordinary session.)
Senator Yee aims to create jobs quickly by moving funding into programs with high demand. The current version of SBx8 28 would:
- Shift $10 million from the Innovative Homeownership Program and $5 million from a construction liability pilot program to Cal-Reuse for brownfield clean-up.
- Shift $25 million from a new property acquisition program and $17.5 million from the "new trust" portion of the Local Housing Trust Fund Program to the Multifamily Housing Program.
- Appropriate $25 million to the Housing-Related Parks Program (out of $200 million designated for this program).
- Appropriate $5 million to the BEGIN (Building Equity and Growth in Neighborhoods) Program (out of $125 million designated for this program).
This version reflects the first amendment for which we successfully advocated: Protection of $17.5 million for the "existing trust" portion of the Local Housing Trust Fund Program. Senators Joe Simitian (D-Palo Alto) and Christine Kehoe (D-San Diego) requested the amendments in the Senate Appropriations Committee hearing on February 12, 2010.
Additionally, we're seeking an amendment to partially address the PMIB (Pooled Money Investment Board) freeze. The amendment would temporarily allow the state Department of Housing and Community Development to make construction loans under the Multifamily Housing Program, the Joe Serna Farmworker Housing Grant Program, and the Transit Oriented Development Program.
At least 11 stalled projects could use this mechanism to begin construction, creating approximately 750 jobs in the next six months.
The idea for this new construction option grew out of our ad-hoc PMIB coalition's work. The coalition continues to meet to tackle the myriad issues arising out of the freeze.
Contact Julie Snyder, 916.447.0503 x102 or .
