SPUR Supports Redevelopment Housing Funds Bill
Letter advocating for protection of the existing housing funds of dissolving redevelopment agenciesJanuary 23, 2012
Senate Bill 654 would ensure that any existing fund balances on deposit in the Low and Moderate Income Housing Fund of a dissolved redevelopment agency would be transferred to the successor agency of the sponsoring community and expended pursuant to the law under which the funds were originally collected.
Redevelopment agencies’ existing Low and Moderate Income Housing Funds are critical sources for the development and preservation of affordable homes across California. SPUR supports protection of these funds in the midst of the changes impacting the state’s redevelopment system.