SPUR joins coalition to make key state budget requests for affordable housing

Policy Letter

SPUR has joined with the Non-Profit Housing Association of Northern California (NPH), All Home and the Bay Area Council to call on the Newsom Administration to make targeted investments to keep affordable housing development moving in our state. Given this year’s significant budget surplus, we are specifically requesting that the state front-load housing investment by providing one-time funding of $3 billion to build stalled affordable housing projects that have received HCD funding, $500 million to acquire and rehabilitate naturally occurring affordable homes and convert them into permanent affordable housing, $18.5 million to seed the Bay Area Housing Finance Authority (BAHFA) and $20 million to help low- and moderate-income homeowners finance Accessory Dwelling Units.