Senator Rubio’s New Housing Bill Encourages Innovative Regional Housing Solution Statewide
SACRAMENTO, CA – Senator Susan Rubio (D-Baldwin Park) introduced a housing bill on the first day of the legislative session that will help local governments address the affordable housing shortage and homelessness crisis by establishing a framework for California cities seeking to create a regional housing trust. Recognized as a regional housing champion, Senator Rubio wants to give other cities the option to use this innovative approach that has proved so successful in her district.
Senate Bill 20 would provide local communities with clarity and guidance by establishing a state framework for regional housing trusts to fund housing to assist low income and unhoused individuals and families. The bill allows regional housing trusts to receive public and private financing and funds, as well as to authorize and issue bonds for the purpose of funding the planning, acquisition, and construction of housing units. The bill also requires all regional housing trusts to maximize transparency and accountability through annual financial reporting and auditing requirements.
“Regional housing trusts are a proven tool for local governments to address California’s serious affordable housing shortage and homelessness crisis,” said Sen. Rubio. “In just three years since I authored legislation to create the San Gabriel Valley Regional Housing Trust, that region has seen 22 cities join together to make meaningful progress in financing affordable housing projects and tiny home bridge housing sites to serve unhoused community members. Senate Bill 20 will provide a framework for communities across California to replicate the success we have achieved in the San Gabriel Valley.”
In 2019, Senator Rubio authored Senate Bill 751 to authorize the creation of the San Gabriel Valley Regional Housing Trust to fund and finance the planning and construction of homeless housing, and extremely low, very low, and low-income housing projects. To date, the San Gabriel Valley Regional Housing Trust has opened three tiny home bridge housing sites for individuals and families experiencing homelessness, helped finance over 550 affordable housing units in seven cities, and established a revolving loan fund to help cities with acquisition and predevelopment expenses for affordable housing development.