“We cannot stand by while the housing shortage displaces families and erodes the middle class,” Schiff said.
After a round table discussion on affordable housing Congressman Adam Schiff tours Hollywood Community Housing’s restored bungalows in Hollywood on Friday, February 21, 2020 as he rolls out his new Affordable and Homeless Housing Incentives Act. and Representative Adam Schiff, D-Burbank, wants to see this vast resource repurposed to fight the nation’s affordable housing crisis.
Across the U.S., there is a shortage of 7 million housing units that are affordable to renters below the poverty line or renters who make 30% or less of their area’s median income,from the National Low Income Housing Coalition found. California needs to build 2.5 million new units by 2030, of which 1 million must be priced at affordable levels, in order to“We cannot stand by while the housing shortage displaces families and erodes the middle class.
It would also establish a $250 million grant fund for each of the fiscal years 2025 through 2030, which the states, and federally recognized Indian Tribes, and local governments could use to cover the cost of purchasing eligible buildings and turning them into affordable housing. In 2022, Newsom signed Santiago’s AB 1695 into law, which allows state funding and loans for the conversion of existing buildings into affordable multifamily housing. In the same year, Newsom signedNot all buildings are well-suited to conversion and bringing offices or commercial structures up to California’s extensive housing and zoning code requirements can be costly and time-consuming.
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