governor of California signs legislation to fight housing crisis | News from USA®
(Reuters) – California Governor Gavin Newsom has signed legislation to tackle the state’s housing crisis by increasing housing production and aiming to streamline housing approvals.
Newsom’s office said Thursday that California will invest $ 1.75 billion in what its administration calls a new housing accelerator in California, which it says will speed up construction of 6,500 affordable multi-family homes that have been stranded for fault. tax-exempt obligations and housing tax for low-income people. credits.
“Governor Newsom’s plan to return to California will result in the creation of more than 84,000 new housing units and an end to homelessness, including today’s announcement of $ 1.75 billion in funding. dollars for affordable housing for the new California Housing Accelerator, ”his office said in a statement.
The median house price in California rose 144% between 2000 and 2019 to reach $ 591,866, according to data from the California Association of Realtors cited in the Wall Street Journal.
Among the measures enacted by Newsom is Senate Bill 9, also known as California Housing Opportunity and More Efficiency (HOME), which would make it easier to build additional housing in areas zoned only for single-family homes.
Newsom also signed Senate Bill 10, which addresses the issue of zoning. Under SB 10, local governments can access a streamlined zoning process for new collective housing near public transportation or in infill urban areas, with up to 10 units per plot. The legislation also facilitates the need to go through the California Environmental Quality Act (CEQA) process.
The signing of the legislation came two days after Newsom repelled a Republican campaign to oust him from office and claimed a resounding victory in a special recall election.
California was at risk of an escalation in wildfire disasters and rising housing costs, according to a study released in June unless it completely revamps its post-fire reconstruction and finds ways to discourage construction in the high risk areas.
The study by the Center for Community Innovation at the University of California at Berkeley and the Next 10 research institute also warned of an imminent insurance crisis unless the laws are changed.
Building in already established communities that are largely protected from wildfires costs more, so developers continue to encroach on more affordable dry, hilly land.
(Reporting by Kanishka Singh in Bengaluru; Editing by Michael Perry)
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