SONOMA COUNTY, Calif. (KION) Gov. Gavin Newsom is in Sonoma County Monday, where he signed a bill intended to fight homelessness and housing affordability issues in the state.
The $12 billion bill is part of his California Comeback Plan.
According to the text of AB140, it would require the Treasurer and other state agencies to develop a framework for the California Dream For All Program, which is intended to make homeownership more affordable. The Treasurer will need to submit a report outlining the framework to the Legislature.
Currently, California law allows the Director of General Services to lease state-owned property when that person decides that leasing would be beneficial for developing housing. At least 25% of the housing units on state property leased are required to be available to very low, low and moderate-income households. The bill would remove the requirement for the approval of the governing body of local agencies and would require that at least 20% of housing units will be available to lower-income and very low-income households.
The bill would establish the Regional Early Action Planning Grants Program to provide funding for planning and implementation services. Those eligible would need to provide information about how the grand would be used and how it will implement and achieve housing goals The Department of Housing and Community Development would be allowed to monitor how money is spent and make sure entrants are complying with program requirements.
Read the full text of the bill and more details about what it will do here.