Connect with us
[the_ad id="4069195"]

Affordable Housing

Governor Signs Tax Credit Bill for Preservation and Affordable Housing

Published

on

SACRAMENTO — On October 9th, Governor Gavin Newsom signed SB 451, the California Historic Rehabilitation Tax Credit, adding California to the list of more than 35 states that have passed such incentives.

The bill, which passed both the Senate and the Assembly with unanimous approval, will enable the renewal of aging structures and communities throughout the state, and promote the development of affordable housing.

The bill will create a 20% state tax credit for the rehabilitation of historic structures listed on the California Register of Historic Places.  An additional 5% bonus can be granted for certain projects, such as affordable housing for lower-income households and projects in transit-oriented developments or regions with high unemployment and poverty rates.

All projects must be approved by the California Office of Historic Preservation and the California Tax Credit Allocation Committee to determine if a project qualifies. The tax credit goes into effect on January 1, 2021.

The State Historic Tax Credit will help to address the critical need for affordable housing in underutilized historic buildings by providing an important financial incentive. Between 2007 and 2017 over 38% of all federal historic tax credit projects in California created new housing units or improved existing units. Of that amount over half were affordable housing projects, and SB 451 will make even more of these projects feasible.

Since February, the California Preservation Foundation (CPF) and the American Institute of Architects, California Council have led a major coalition to shepherd the bill through the legislature, working directly with California Senate President pro Tempore Toni G. Atkins.

The bill received broad support from organized labor, affordable housing groups, historic preservation organizations and local governments.  This effort built on the work CPF did in 2014 to pass AB 1999, the first version of this legislation. While it passed both houses of the California legislature, it was ultimately vetoed by then Governor Jerry Brown.

From 2002 to 2016, $468.1 million in Federal Historic Tax Credits catalyzed 169 projects in California, totaling $2.8 billion in qualifying rehabilitation expenditures. This activity has generated:

  • 39,279 jobs
  • $2.8 billion in Gross State Product
  • $160 million in state and local taxes
  • $493.3 million in federal taxes
  • $468.1 million in federal tax credits

SB 451 will provide further incentive for historic rehabilitation, increase the supply of affordable housing, support growth through infill development, and encourage property rehabilitation and maintenance in economically depressed areas. It will encourage meaningful investments in communities across the state such as Hollenbeck Terrace, Los Angeles.

Image result for hollenbeck terrace photo
Photo: Apartments. com

Hollenbeck Terrace is an adaptive reuse project that transformed the Santa Fe Coast Lines Hospital and Nurses’ Dormitory in Boyle Heights into low income housing for senior citizens. The project utilized federal incentives for both historic preservation and affordable housing. The site was a natural fit for adaptive reuse into housing.

With generously scaled corridors preserved, historic patient rooms were easily redesigned as apartments because of their essentially residential-scaled spaces, with windows providing ample natural light. Through the federal historic preservation tax credit process, the property was converted to 100 quality apartments for low-income senior citizens, along with common rooms and outdoor spaces for its new residents. SB 451 makes projects like this more economically feasible, so that historic structures can be put back to work in the communities that need them most.

Photo: Sacramento Bee

Advertisement
Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Affordable Housing

Senior Tenant Sues Santa Monica Landlord to Stay in Her Home

Published

on

photo by Benjamin Massello

SANTA MONICA (Santa Monica Daily Press)– A 72-year-old woman with disabilities who has lived in the same Santa Monica studio for 38 years has filed suit in Los Angeles Superior Court against her landlords.

In the suit filed Monday, St. James v. Bills, tenant Zandra St. James charges that her landlord violated state law by refusing to accept her housing choice voucher to offset her monthly rent. As a result, St. James faces eviction.

St. James’ apartment is rent-controlled, but with annual incremental increases. The rent has risen to the point that it now demands more than 90 percent of her monthly Social Security disability check.

She was awarded a housing choice voucher in 2019 and immediately sought to use the subsidy to help pay her […]

Continue reading at smdp.com

Continue Reading

Affordable Housing

Apply for Affordable Senior Housing at LGBT Center’s McCadden Campus

Published

on

LOS ANGELES — The City of West Hollywood is getting the word out that applications for new affordable senior housing will be accepted by the Los Angeles LGBT Center’s Senior Services program for the forthcoming McCadden Campus senior housing site, which will offer 98 new, affordable, low-income units designed for people who are ages 62 and over.

The LGBT Center’s McCadden Campus senior housing is anticipated to be completed in fall 2020 and will feature studios and one-bedroom rentals.

There will be fully accessible units for people with mobility hearing, and/or vision disabilities. Future residents will be welcomed into the LA LGBT Center’s wide range of community programming specializing in HIV+ wellness, gender identity, and LGBT social and cultural support.

Other services will include meals, case management, employment training, and more.

The new senior housing site will be located adjacent to the Center’s Harry & Jeanette Weinberg Senior Center at the Anita May Rosenstein Campus on N. Las Palmas Avenue in Hollywood, just east of the City of West Hollywood, and is a project of the Los Angeles LGBT Center and Thomas Safran & Associates.

The City of West Hollywood contributed $2.1 million to the project from the City’s local housing trust fund. Applications will be accepted by the Los Angeles LGBT Center until Wednesday, March 4.

There will be three opportunities for community members to submit applications in person in the City of West Hollywood:

  1. Monday, March 2 from 11 a.m. to 2 p.m. at the West Hollywood Park Auditorium, located at 647 N. San Vicente Boulevard; and
  2. Wednesday, March 4 from 3 p.m. to 7 p.m. at the West Hollywood Library Community Meeting Room, located at 625 N. San Vicente Boulevard.

The City of West Hollywood has a decades-long commitment to providing social services, health education, and information to community members in-need and to improve quality of life. The City’s Social Services Division and Strategic Initiatives Division budget more than $5 million annually to support programs that impact thousands of people in West Hollywood through local nonprofit organizations.

The City’s Aging in Place/Aging in Community program was launched in 2016 to improve the quality of life and well-being of older adults in the City. For additional information, please visit weho.org/aging.

The City of West Hollywood’s Rent Stabilization & Housing Division promotes equity and inclusion through access to housing, and by working to change the underlying systems leading to and perpetuating disparities.

The Division provides a breadth of information and services to both tenants and property owners, including housing counseling and information materials. The City facilitates the development of new housing with an affordable component, the rehabilitation of existing housing for lasting affordability, and the development of mixed-use projects that include affordable housing units. For additional information, please visit weho.org/housing.

For more information about programs and services for seniors in the City of West Hollywood, please contact the City of West Hollywood’s Social Services Division at (323) 848-6510 or visit www.weho.org/wehocares.

For more information about McCadden Campus senior housing, please contact the Los Angeles LGBT Center’s Senior Services program by calling (323) 860-5830 or visit http://mccaddencampus.

Continue Reading

Affordable Housing

CA Lawmakers Say Limiting Development Fees Combats Housing Crisis

Published

on

Photo by Sacha T'Sas

SACRAMENTO (AP) — In their latest bid to combat California’s affordable housing crisis, state lawmakers on Monday announced a package of bills to limit development fees that can add tens of thousands of dollars to the price of a new home.

However, local governments depend heavily on the fees, which typically are used to pay for schools, roads and parks. Lawmakers said they were discussing those needs but have not yet decided how the fees might be replaced.

The fees are “vital to local government’s ability to pay for the infrastructure that residents living in new developments need,” Chris Lee, legislative representative for the California State Association of Counties said in a statement. He said counties are glad to […]

Continue reading at abc7.com

Continue Reading
Advertisement

This Just In…

Trending