SPUR Supports SB 5 to Create a Housing and Development Investment ProgramMay 23, 2019
SPUR supports Senate Bill 5, which would create an Affordable Housing and Community Development Investment Program housed at the state. SB 5 is structured to make significant affordable housing and community development dollars available immediately. Fifty percent of the funding overall and 50 percent of a given local agency’s funding would be required to be spent on affordable housing. While SB 5 is not a new source of funding, it is an important commitment from the state general fund toward important affordable housing and community development needs across the state.