This bill enacts the Veterans and Affordable Housing Bond Act of 2018, which authorizes the issuance of bonds in the amount of $4,000,000,000 pursuant to the State General Obligation Bond Law. Of the proceeds from the sale of thee bonds, $300,000,000 would be used to finance various existing housing programs, as well as infill infrastructure financing and affordable housing matching grant programs, as provided, and $1,000,000,000 would be used to provide additional funding for the above-described program for farm, home, and mobilehome purchase asiatnace for veterans, as provided.

In response to previous work by CMHI and a request for an amendment this bill includes the following:

Three hundred million dollars($300,000,000) to be deposited in the Joe Serna, Jr. Farmworker Housing Grant Fund, established pursuant to Section 50517.5, for expenditure, upon appropriation by the Legislature, to fund grants or loans, or both, for local public entities, nonprofit corporations, limited liability companies, and limited partnerships, for the construction or rehabilitation of housing for agricultural employees and their families or for the acquisition of manufactured housing as part of a program to address and remedy the impacts of current and potential displacement of farmworker families from existing labor camps, mobilehome parks, or other housing. These funds may also be expended for any authorized purpose of this program. These funds may also be used to provide technical assistance pursuant to Section 54007.

Three hundred million dollars ($300,000,000) to be deposited in the Self-Help Housing Fund, which is hereby created within the fund. The moneys in the account shall be, upon appropriation by the Legislature, available for the CalHome Program authorized by Chapter 6 (commencing with Section 50650) of Part 2, to provide direct, forgivable loans to assist development projects involving multiple home ownership units, including single-family subdivisions, for self-help mortgage assistance programs, and for manufactured homes. These funds may also be expended for any authorized purpose of this program. At least thirty million dollars ($30,000,000) of the amount deposited in the Self-Help Housing Fund shall be used to provide grants or forgivable loans to assist in the rehabilitation or replacement, or both, of existing mobilehomes located in a mobilehome or manufactured home community. These funds may also be used to provide technical assistance pursuant to Section 54007.

The Veterans and Affordable Bond Act of 2018 will be placed on the November 18 ballot and when passed will become effective January 01, 2019.

The inclusion of high value manufactured housing in this bill, and those yet to come, will improve the cost and effectiveness of local and state programs designed to overcome California’s affordability housing crisis. 

On your behalf, CMHI’s Legislative Committee is working to ensure parity for manufactured homes purchasers/owners in all programs designed to facilitate home ownership.

A special thank you to Senator Beall, his staff and all those who support our efforts to provide high value housing options  for California families.