Schwarzenegger Plan Omits Affordable Housing Funds
"Affordable housing advocates planned to ask California voters as early as this year to approve a real estate fee or other permanent source of revenue to address the state's chronic housing shortage." Yet the Governor's plan includes no such funding.
"For decades, California has struggled with how to pay for or encourage the construction of housing for people priced out of the market. In the absence of a permanent source of revenue, the state instead depended on a series of bond measures -- most recently, the $2.1 billion Proposition 46 approved by voters in 2002. Relying on bonds has its pitfalls. The money comes in spurts, followed by dry spells that can lead to disruptions in housing programs."