Governor Signs Daly Bill Streamlining Application Process for State Affordable Housing Funding

For immediate release:

Governor Signs Assembly Bill 434

Measure by Assemblymember Daly Streamlines California Rental Housing Programs

This legislation, by Assemblymember Tom Daly (D – Anaheim), will expedite production and reduce the cost of affordable housing. AB 434 streamlines multiple Department of Housing and Community Development (HCD) rental housing programs into a single application and award process. 

“My bill harmonizes the statutes for seven affordable housing programs administered by HCD,” Assemblymember Daly said. “This will enable the department to utilize a single application and scoring system to make coordinated awards for all seven programs at once. The cost of affordable housing will drop with a reduction of HCD and developer staff time spent on multiple applications and decreasing long development timeline delays.”

AB 434 was co-sponsored by the California Housing Consortium and California Housing Partnership.

According to Ray Pearl, executive director of the California Housing Consortium, “California has laudable goals for affordable housing and many effective financing programs. But they can be challenging to navigate and often require multiple applications for related funding streams. With this legislation, the state has taken an important step toward creating a single, one-stop process for affordable housing providers to apply for the resources they need to build housing for the state's most vulnerable households. This new streamlined system will make it simpler, faster, and less costly for every community to accelerate production of affordable housing.”

Matt Schwartz, president and CEO of the California Housing Partnership, said that “By unifying the application and underwriting process for seven state multifamily rental housing funding programs serving low-income Californians, AB 434 makes it possible to use scarce resources much more efficiently – reducing the cost, time and risk in developing urgently needed affordable homes.”

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Tom Daly represents the 69th Assembly District,
which includes the cities of Anaheim, Garden Grove, Orange & Santa Ana.