State Lawmakers Propose Bill to Save Affordable Housing in California

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."