More than 400 Redevelopment Agencies (RDAs) played a critical role in the development of affordable housing across California for over 60 years. After the agencies were eliminated in 2012 in state budget negotiations, affordable housing developers had to adjust to a new funding landscape without the central source of state funding for subsidized housing development. The Federal Reserve Bank of San Francisco’s community development department, in partnership with Housing California, surveyed the state’s affordable housing developers in October 2015 to learn how they are faring following RDA dissolution; how their development pipelines have been affected by the loss of RDA funds; and how new legislation, local regulation, or funding strategies have impacted affordable housing development over the past three years. This report is an analysis of current conditions and challenges expressed in the survey responses of 71 affordable housing development organizations across California.
Author: Gabriella Chiarenza, Federal Reserve Bank of San Francisco
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