California has created a dedicated state housing agency to address its growing housing affordability and homelessness crises. The move separates housing responsibilities from an old department that also regulated alcohol, car mechanics, and horse racing, aiming to simplify the state’s fragmented affordable housing finance system.
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A Long-Awaited Shift
After years of rising rents, housing shortages, and widespread homelessness, California is establishing a standalone state housing agency. Previously, housing programs were managed by the Business, Consumer Services, and Housing Agency, a department overseeing unrelated sectors like cannabis, professional licensing, and horse racing.
Ben Christopher of CalMatters reported that the new agency will absorb housing-related entities and introduce an Affordable Housing Finance Committee better to coordinate funding programs under the governor’s control. However, critical funding programs like tax credits and bond allocations will remain with the independently elected state treasurer…