From: Governor's Press Office [govpressoffice@GOV.CA.GOV]
Sent: Monday, June 23, 2008 3:49 PM
Subject: Governor Issues Statement on $388 Million in Proposition 1C Housing Bond Funding for California Communities

GAAS:462:08

For Immediate Release:                                                            Contact:  Aaron McLear

Monday, June 23, 2008                                                                           Camille Anderson

                                                                                                                916-445-4571

 

Governor Schwarzenegger Issues Statement on $388 Million in

Proposition 1C Housing Bond Funding for California Communities

 

Today Governor Arnold Schwarzenegger issued a statement on the more than $388.8 million in Proposition 1C funds awarded to local communities throughout the state to improve housing, infrastructure and support housing near transit.  The funding was made available through Proposition 1C which provides $2.85 billion to finance affordable housing and infrastructure across California, and is part of the historic $42 billion package of infrastructure bonds championed by the Governor and approved by voters in November 2006.

 

“This funding will help revitalize neighborhoods by providing important infrastructure improvements, building affordable housing near transit, and stimulating the economy for affordable multifamily projects up and down the state,” said Governor Schwarzenegger. 

 

Proposition 1C initiated new programs to improve infrastructure and support housing near transit - these are the first awards for the Infill Infrastructure Grant Program (Infill) and the Transit-Oriented Development Program (TOD).  An additional $150 million in awards for the Infill and TOD programs will be available if the Legislature passes AB 1252 (Caballero) which provides for an additional appropriation for these important programs.  This bill is needed to help invigorate the economy and also fund projects that provide affordable housing and infrastructure incentives for cities and counties.

 

These awards are an investment in affordable housing in California's communities and are run through three Department of Housing and Community Development programs: 

 

 

For a listing of awards by program please visit the Department of Housing and Community Development website.

 

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