These are the organizations signing on to the following Letter of Support for AB 1657.
The Honorable Governor Gavin Newsom Governor Gavin Newsom
1021 O Street, Suite 9000
Sacramento, CA 95814
Senate President Pro Tempore Mike McGuire 1021 O Street, Ste. 8610
Sacramento, CA 95814
Assembly Speaker Robert Rivas 1021 O Street, Ste. 8330 Sacramento, CA 95814
Re: Support for Assembly Bill 1657
Dear Governor Newsom, Pro Tem McGuire, and Speaker Rivas,
We are pleased to support AB 1657 by Appropriations Chair Buffy Wicks, the Affordable Housing Bond Act of 2024. This bill would place a $10 billion bond on the November 2024 ballot to fund the state’s affordable housing programs, including affordable rental housing for lower-income families, homeownership opportunities, and supportive housing for people experiencing homelessness.
We need to fund affordable housing because we want to reduce poverty, end homelessness, eliminate racial segregation, create jobs, and stop climate change.
AB 1657 authorizes $10 billion in general obligation bond funds to support the construction, rehabilitation, and preservation of affordable housing and permanent supportive housing. The bond will result in almost 30,000 new homes affordable to very-low income, extremely-low income and homeless families, including set asides for farmworker and tribal housing. It will also preserve and/or rehabilitate nearly 100,000 new homes. And it will assist over 13,000 families to become homeowners. Collectively, these projects will result in tens of thousands of high-paying construction jobs.
The Affordable Housing Bond of 2024 is a smart investment. Every $1 spent by the state is matched by $4 from federal tax credits, local grants, and rent payments from the residents. This includes billions of dollars in federal tax credits that the state will leave on the table if we do not contribute our own share.
Finally, the Affordable Housing Bond of 2024 is fiscally prudent. The bond has no impact on the 2024-25 budget. The state would not issue bonds until 2026 at the earliest. For these reasons, we stand together in support of AB 1657.
Sincerely,
Laura Foote
YIMBY Action, Executive Director
Marty Estrada
Community Agency for Resources, Advocacy and Services (CARAS), Director of Community Development
Jen Klose
Generation Housing, Executive Director
Regina Celestin Williams
SV@Home Action Fund, Executive Director
Tahra Goraya
Monetary Bay Economic Partnership, President and CEO
Zack Deutsch-Gross
TransForm, Policy Director
Elizabeth Hansburg
People for Housing Orange County, Executive Director
Saúl Ramos & Victor Vasquez
SOMOS Mayfair, Co-Executive Directors
Lindsay Haddix
East Bay Housing Organizations, Executive Director
Miriam Yupanqui
Nuestra Casa de East Palo Alto, Executive Director
Evvy Stivers
Housing Leadership Council of San Mateo County, Executive Director
Lauren Weston
Acterra: Action for a Healthy Planet, Executive Director
Jennifer Hark Dietz
PATH, Chief Executive Officer
John Avalos
Council of Community Housing Organizations, Executive Director
Kelly Batson
United Way Bay Area, Interim Chief Executive Officer
David Low
Destination Home, Senior Director of Policy & Communications
Mahdi Manji,
Inner City Law Center, Director of Public Policy
Shanti Singh
Tenants Together, Legislative & Communications Director
Michelle Pariset
Public Advocates, Director of Legislative Affairs
Igor Tregub
Alameda County Democratic Party, Chair
Darris Young
Bay Area Regional Health Inequities Initiative
Eddie Carmona
PICO CA, Campaigns Director
Michael Lane
SPUR, State Policy Director
Maddie Ribble
The Children’s Partnership, Interim Vice President for Policy
Isabel Storey
VP, Legislation, Santa Monica Democratic Club
Leah Pressman
Chair, Legislation, Culver City Democratic Club
Megan Abell
Senior Director of Advocacy, TechEquity Action
Esther Malkin
Monterey County Renters United, Founder
Francisco Dueñas
Executive Director, Housing Now!
Dinora Reyna-Gutierrez
Executive Director, San Diego Organizing Project
Corey Smith
Executive Director, Housing Action Coalition
Saa’un Bell
Senior Associate Director, Power CA Action
Tommy Newman
Vice President of Public Affairs & Activation, United Way of Greater Los Angeles
Devon Gray
President, End Poverty in California
Dennise Jauregui
Executive Director, Housing Choices
Mary McGuire
Chief Impact Officer, Safe Place for Youth
Elizabeth Wampler
Interim Executive Director, LISC Bay Area
Beth Stokes
Executive Director, Episcopal Community Services