Below is a brief summary of the housing and homelessness investments in the Governor’s proposed budget released on January 10.
Affordable Housing Resources:
- $500 million to the Infill Infrastructure Grant Program (IIG), to build affordable housing and infrastructure for infill development.
- $500 million to the state Low Income Housing Tax Credit (LIHTC).
- $300 million in the Affordable Housing and Sustainable Communities Program (AHSC), which funds land-use, housing, transportation, and land preservation projects to support infill and compact development that reduce greenhouse gas (GHG) emissions.
- $200 million to the California Housing Finance Agency’s (CalHFA) Mixed-Income Program, which provides loans to develop mixed income rental housing, for households with incomes between 30% and 120% of the Area Median Income (AMI).
- $200 million to the Portfolio Reinvestment Program, for preservation in downtown-oriented areas.
- $100 million for the Development of Excess State Land.
- $100 million for Adaptive Reuse of unused commercial properties.
- $100 million to the Mobile Home Park Rehabilitation and Resident Ownership Program.
- $1.5 billion to create “Behavioral Health Bridge Housing,” interim housing for people experiencing homelessness with serious behavioral health conditions
- $500 million to expand the Encampment Resolution Grant Program
Newsom’s proposed 2022-23 Governor’s budget contains only about $4 billion in new resources towards affordable housing and homelessness solutions with several notable new, one-time investments, focused on climate resiliency and behavioral health.