State Lawmakers Propose Bill to Save Affordable Housing in California
The "Bay Area Structurs" blog of the San Francisco Business Times (2/24, Torres) reports the proposed Housing Opportunity and Market Stabilization Act, "could create a permanent source of funding for affordable housing in California now that the state has disbanded redevelopment agencies." Money from a $75 recording fee on real estate transactions "would fund development, acquisition, rehabilitation, and preservation of affordable homes for Californians living on fixed or low incomes." The amount could be "around $700 million per year."
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