06/23/2008 GAAS:462:08 FOR IMMEDIATE RELEASE Print Version |
Governor Issues Statement on $388 Million in Proposition 1C Housing Bond Funding for California Communities
Today Governor Arnold Schwarzenegger issued a statement
on the more
than $388.8 million in Proposition 1C funds awarded to local communities
throughout the state to improve housing, infrastructure and support housing near
transit. The funding was made
available through Proposition 1C which provides $2.85 billion to finance
affordable housing and infrastructure across California, and is part of the historic $42
billion package of infrastructure bonds championed by the Governor and approved
by voters in November 2006.
"This funding will help revitalize neighborhoods by
providing important infrastructure improvements, building affordable housing
near transit, and stimulating the economy for affordable multifamily projects up
and down the state," said Governor Schwarzenegger.
Proposition 1C initiated new programs to improve
infrastructure and support housing near transit - these are the first awards for
the Infill Infrastructure Grant Program (Infill) and the Transit-Oriented
Development Program (TOD). An additional $150 million in awards for the Infill
and TOD programs will be available if the Legislature passes AB 1252 (Caballero)
which provides for an additional appropriation for these important programs.
This bill is needed to help invigorate the economy and also fund projects that
provide affordable housing and infrastructure incentives for cities and
counties.
These awards are an investment in affordable housing in
California's
communities and are run through three Department of Housing and Community
Development programs:
- $240 million in awards through the Infill Infrastructure Grant Program will provide infrastructure improvements to facilitate new housing development in residential and mixed use infill projects throughout California, including parks or open space; water, sewer, or other utility service improvements; streets, roads, parking structures, or transit linkages and facilities; pedestrian or bicycle transit facilities; and traffic mitigation.
- $95 million to provide funding through the Transit-Oriented Development Housing Program to stimulate the production of higher density housing and related infrastructure within close proximity to transit stations that encourage increased public transit ridership and minimizes automobile trips.
- $53.8 million in awards through the Multifamily Housing Program will provide hardworking families, as well as seniors, the disabled, homeless and those transitioning from homelessness access to affordable housing.
For a listing of awards by program please visit the Department of Housing and Community Development website.
