Thursday, May 18, 2006

$2.85B housing bill makes November ballot

From today's SF Business Times,
Californians will vote in November on a measure to raise $2.86 billion for affordable homes, emergency shelters and residential infrastructure around the state.

The measure, which will be Proposition 1C on the ballot, was backed by the affordable-housing advocacy group Housing California. It would sell bonds to finance:

  • $395 million worth of apartments for seniors, families and people with disabilities.

  • $50 million for emergency housing assistance. The money would be used to build and renovate emergency shelter and transitional housing for homeless families with children and battered women, among others.

  • $195 million for a Supportive Housing Program that would build apartments for people with chronic disabilities.

  • $135 million for farmworker-housing grant programs.

  • $300 million for the Cal-HOME Program, funding for home ownership.

  • $1.35 billion for residential infrastructure.
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