HomeMy WebLinkAboutSB 1220 LTR to Blakeslee 20120515city Of sAn luis omSPO
OFFICE OF THE CITY COUNCIL
990 Palm Street ■ San Luis Obispo, CA 93401-3249 ■ 805/781-7119
May 15, 2012
VIA FACSIMILE 916-445-8081
Senator Sam Blakeslee
California State Senate
State Capitol, Room 4070
Sacramento, CA 95814
Re: SB 1220. Housing Opportunity and Market Stabilization (HOMeS) Trust
Fund Act of 2012
NOTICE OF SUPPORT
Dear Senator Blakeslee:
I am writing on behalf of the City of San Luis Obispo to encourage you to approve SB
1220 (DeSaulnier), the Housing Opportunity and Market Stabilization (HOMes) Act when it is
heard in the Senate.
The HOWS Act will create a permanent revenue source for affordable housing by
charging a $75 fee on the recording of most real estate documents. Since the elimination of
redevelopment agencies earlier this year, exhaustion of Proposition IC state housing bonds and
reductions in federal HOME and CDBG funds, California critically needs a new permanent
funding source for ending homelessness and providing safe and affordable housing.
The Department of Housing and Community Development (HCD) estimates that the
HOWS Act would generate approximately $500 million annually for affordable housing
production. HCD also estimates that the HOMeS Act would create a one-time state tax benefit
to California of over $110 million and an ongoing state tax benefit of over $19 million annually.
The HOWS Act will not only help more families and individuals secure decent and
affordable housing. it will also create jobs and help to stabilize the state's housing market.
For the above reasons, the City of San Luis Obispo urges your support of SB 1220,
Sincerely,
Jan Marx
Mayor
Cc: City Council
Tyler Corey
David Mullinax, League of California Cities
Erin Shaw, via email: erin.shawAsen.ca.g_o_v