A Bay Area legislator is unveiling new legislation to provide major state funding for cities and counties to finance low-income housing, transit and other infrastructure.
Assembly Bill 3037 from Assemblyman David Chiu (D-San Francisco) would re-create a version of a program known as redevelopment that set aside billions of dollars in property taxes each year for local economic development and affordable housing. Gov. Jerry Brown and lawmakers eliminated that program in 2011 during the depths of the state’s budget crisis, arguing the effort was too costly and rife with abuses, such as money financing upgrades to luxury golf courses.
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