Policy & Legislation
Governor Signs Prop. 1C Augmentation Bill
July 09, 2008
On Monday, June 30, 2008, Governor Arnold Schwarzenegger signed AB 1252 to expedite spending of $150 million in Proposition 1C funds.
The urgency measure, by Assemblymember Anna Caballero (D-Salinas), appropriates an additional $100 million to the Infill Incentive Grant Program and $50 million to the Transit-Oriented Development Program (T.O.D.), both run by the Department of Housing and Community Development (HCD). The funds will be awarded to 29 developments that applied in the first round.
Housing CA supported the bill, because the additional monies will support developments with significantly higher affordability levels than the initial first-round funding. In the infill program, 71% of the additional homes will be below-market-rate compared to only 45% under the initial funding, while T.O.D. jumped from 59% to 69%.
The legislature's two-house budget committee is currently considering how much to appropriate for both programs' second round of funding. HCD hopes to release Notices of Funding Availability (NOFAs) for the second round in late 2008.
Contact Julie Snyder, (916) 447-0503 x 102 or .
