Laserfiche WebLink
IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br /> RESOLUTION NO. 2013-088 <br /> RESOLUTION SUPPORTING SENATE BILL 391 [DESAULNIER] TO ENACT THE <br /> CALIFORNIA HOMES AND JOBS ACT OF 2013 <br /> WHEREAS, families continue to face a housing crisis as mortgages remain out of reach, <br /> credit standards have tightened, and the foreclosure crisis has pushed more people into a rental <br /> market, leading to record-setting increases; and <br /> WHEREAS, California needs to get building again to create jobs and build homes for <br /> those in need, including families with children, seniors, veterans, and people with disabilities; <br /> and <br /> WHEREAS, the City has recently benefitted from investment in affordable homes from <br /> the successful state bond Proposition 1 C, which has directed nearly $22 million in state <br /> investment to a proposed 200 unit affordable rental housing development by the nonprofit <br /> BRIDGE Housing Corporation and will help BRIDGE leverage over $25 million in federal, local <br /> and private dollars; and <br /> WHEREAS, with funds from successful state housing bonds (Propositions 46 and 1C) <br /> exhausted and the complete elimination of redevelopment, the availability of state dollars that <br /> leverage federal and local funds and private investment is the lowest it has been in years, <br /> threatening housing production and the jobs that go with it; and <br /> WHEREAS, SB 391, the California Homes and Jobs Act of 2013, will create a stable <br /> funding source for investment in homes and jobs; and <br /> WHEREAS, SB 391 would generate an estimated $500 million in state investment <br /> annually and leverage an additional $2.78 billion in federal and local funding and bank loans and <br /> deploy these funds through a successful public/private partnership model; and <br /> WHEREAS, SB 391 would create 29,000 jobs in California annually, and help <br /> businesses stay competitive when they can attract and retain the talent that fuels California's <br /> economy. <br /> NOW, THEREFORE, BE IT RESOLVED,that the City Council of the City of San <br /> Leandro supports SB 391 to assist residents and create jobs by creating a new source of revenue <br /> for investment in affordable homes. <br /> ***** <br />