Earlier this month, Governor Gavin Newsom released his May Revise to the 2022-2023 state budget proposal. While we welcome his ongoing commitment to equitably build more affordable and climate-smart housing, a much deeper investment is required to meaningfully address our burgeoning crisis with the bold solutions that we know will effectively help us realize our vision for a more sustainable future. Yet, even amidst the state enjoying a record budget surplus of nearly $100 billion, the commitment of $2.5 billion to affordable housing is modest relative to our communities’ immediate and long-term needs.
We’re thankful for the steadfast advocacy of our partner’s at Non-Profit Housing Association of Northern California (NPH). In a recent blog analyzing the May Revise, they outlined the shared priorities between the California State Senate and our own regional advocacy. These Senate priorities include:
- $500 million for Multifamily Housing Program
- $500 million for Housing Accelerator Program
- $100 million for the Joe Serna Farmworker Housing Program
- $350 million for CalHOME Program
- $200 million for the Downpayment Assistance Program
- $50 million for ADU Financing Assistance, to help spur increase in housing supply through ADUs
With thousands of shovel-ready affordable projects approved and ready to go, we call upon the Governor and our state elected officials to infuse more financial resources into these key programs that will trigger the next wave of affordable housing development across the state.
We look forward to further supporting our regional partners and allies, and thank them for their support in advancing our collective vision.
For more information on the Housing and Homelessness May Revise Budget Summary, click here.