HomeMy WebLinkAboutSB 5_20190913_ Governor Signature Request
September 12, 2019
The Honorable Gavin Newsom
Governor, State of California
State Capitol Building, 1st Floor
Sacramento, CA 95814
RE: SB 5 (Beall/McGuire/Portantino) Affordable Housing and Community Development
Investment Program
Request for Signature
Dear Governor Newsom:
The City of San Luis Obispo supports SB 5 (Beall/McGuire/Portantino), the Affordable Housing and
Community Development Investment Program. SB 5 gives cities the tools to improve communities while
acknowledging the need for flexible funding to spur housing construction and revitalize communities.
The elimination of redevelopment in 2011 created a huge deficit in community revitalization resources
throughout California, including an annual loss of $1 billion in funding for low- and moderate-income
housing.
SB 5 would create a new local-State partnership to provide up to $2 billion annually to fund State approved
affordable housing, infrastructure, and economic development projects that also support State policies to
reduce greenhouse gas emissions, expand transit oriented development (TOD), address poverty, and
revitalize neighborhoods.
This renewed state investment would greatly benefit the City of San Luis Obispo, which is repeatedly
named one of the least affordable places to live in California. One of the biggest impediments affordable
housing developers face in our region is the ability to secure necessary financial assistance needed to cover
increasing land and construction costs. SB 5 would put tax revenues back into our community to help
create what we need most – housing that is affordable to the local workforce and lower income families –
while also helping us achieve our goal of carbon neutrality by 2035.
With a multi-billion dollar State budget surplus, the time is right for the State to restore more robust
financing mechanisms that support local efforts to build more affordable housing, provide essential
infrastructure, and create opportunities in underserved communities.
For these reasons, the City of San Luis Obispo supports SB 5 (Beall/McGuire/Portantino).
Sincerely,
Heidi Harmon
Mayor
City of San Luis Obispo
cc. State Senator Bill Monning, fax (916) 651-4917
State Assembly Member Jordan Cunningham, fax (916) 319-2135
Dave Mullinax, League of California Cities, dmullinax@cacities.org
Meg Desmond, League of California Cities, cityletters@cacities.org