Bringing you updates on legislation, policy, and other news relating to affordable housing, homelessness, and sustainable communities. | |
|
STATE and FEDERAL UPDATES | |
|
Proposition 1, Historic Mental Health and Housing Ballot, Passed by Voters
by Dr. Yelba Carillo, Principal, Homelessness Solutions Team | LeSar Development Consultants
Proposition 1, the Behavioral Health Services Program and Bond Measure, which crucially addresses the homelessness crisis through funding housing and shelter, was narrowly approved by voters in late March, indicating a greater acknowledgement of housing as a solution to homelessness. The “yes” vote garnered 50.2%, with results to be certified by the Secretary of State by April 12, 2024.
Read more about what Prop 1 is and what it delivers >
| |
|
Federal Budget Makes Tradeoffs to Address Funding Constraints
by Christina Mun, Chief Strategy Officer | LeSar Holdings, Inc.
Following multiple continuing resolutions and budget negotiations, congressional leaders finalized the Transportation, Housing, and Urban Development budget (THUD) for fiscal year (FY) 2024 in early March. The final spending bill provides HUD programs with $70B, 11% more than the previous year’s enacted levels. The final enacted levels represented tradeoffs within the housing and homelessness sector to address funding constraints.
The budgetary process faced multiple funding challenges this year. Funding for domestic programs, including affordable housing and homelessness programs, was severely limited by the Fiscal Responsibility Act (FRA) enacted in June 2023, which capped overall spending for domestic programs at approximately FY23 levels and limited spending increases in FY25 to only 1% in exchange for raising the federal debt ceiling until 2025.
Read more on details of additional budget tradeoffs >
| |
|
Social Housing Makes Headway in California, New York, and Seattle
by Anu Natarajan, Managing Director, Global Housing Practice | Global Policy Leadership Academy
Social housing, the concept of large-scale, mixed-income housing that promotes permanent affordability, tenant protections, and resident control, has typically been implemented in cities outside of the US, including in Europe, South America, and Asia. In recent years, however, it has garnered substantial attention in the US. This year, momentum has built for social housing in California, New York, and Seattle.
In California, Assemblymember Alex Lee (D-Milpitas) has introduced two bills this year to seed social housing programs, building off his 2023 bill, AB 309 (Lee, D-Milpitas), which passed the Legislature but was unfortunately vetoed by the Governor. AB 309 would have enacted the Social Housing Act and created the Social Housing Program, which would have ensured that qualified social housing developments are produced on leased state property to help address the housing crisis.
Read more on social housing bills introduced this year >
| |
-
The Feds Want to Study Giving Cash to Renters. Will Californians be Included? | CalMatters | March 22, 2024
-
Biden Suggests a Bigger Federal Role to Reduce Housing Costs | New York Times | March 21, 2024, possibly paywalled
-
The End of Skid Row’s Cheap Hotels? L.A. Leaders Want to Replace Last-Resort Homeless Housing | LA Times | March 19, 2024, possibly paywalled
-
For the First Time in 15 Years, Federal Housing Administration Increases Loan Limits to Expand Financing for Manufactured Homes | HUD | March 18, 2024
-
Fresh Batch of YIMBY Housing Bills Clash with Coastal Protections (Again) | CalMatters | March 18, 2024
-
How Does Paris Stay Paris? By Pouring Billions Into Public Housing | New York Times | March 17, 2024 possibly paywalled
-
Why Private Developers Are Rejecting Government Money for Affordable Housing | Wall Street Journal | March 16, 2024, possibly paywalled
-
Cities Face Cutbacks as Commercial Real Estate Prices Tumble | New York Times | March 14, 2024, possibly paywalled
-
After Leading a Back to the City Movement, Many Millennials Moved to the Suburbs | Harvard Joint Center for Housing Studies | March 14, 2024
-
In Hospitals, Affordable Housing Gets the Long-Term Investor It Needs | New York Times | March 12, 2024, possibly paywalled
| |
|
With a diverse range of subject matter expertise and an unwavering commitment to equity, access, and excellence, the LeSar portfolio of companies is uniquely positioned to drive the systemic changes and capacity building necessary to address the housing affordability and homelessness crises.
| | | | |
