Cap and Trade Program Delivers 20,000 Affordable Homes While Meeting Climate & Equity Goals

A new report released today by the California Housing Partnership and Enterprise Community Partners finds that the Affordable Housing and Sustainable Communities (AHSC) Program, over eight rounds of awards, has reduced 5.7 million metric tons of greenhouse gas (GHG) emissions across California through the production of 20,361 new long-term affordable homes. The $4 billion invested through AHSC since 2015 funded 209 catalytic affordable housing developments, 65% of which are located in disadvantaged communities. These developments integrate key transit and transportation investments resulting in 959 new buses, vans, and shuttles,1512 miles of new and improved bike lanes and 28,000 transit passes. The state’s $4 billion AHSC investment leverages critical public and private housing resources at a 5:1 ratio and has generated 47,000 construction-related jobs. 

As the Governor and Legislature consider extending the Cap and Trade program that provides AHSC funding, the report underlines the fact that investing in AHSC is a key and lasting strategy to meet the state’s climate change, affordability, and equity goals.

We call on state leaders to maintain, and if possible, expand Cap and Trade funding for AHSC over the long-term. AHSC delivers sustainable, connected, vibrant neighborhoods where housing and transportation are integrated with greenhouse gas reducing infrastructure and amenities.

Please read the coalition letter and sign on here to support this work!

The California Housing Partnership creates and preserves affordable and sustainable homes for Californians with low incomes by providing expert financial and policy solutions to nonprofit and public partners. Since 1988, the Partnership's on-the-ground technical assistance, applied research, and legislative leadership has leveraged $37 billion in private and public financing to preserve and create more than 96,000 affordable homes. 

Visit us at www.chpc.net.

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