State releases new guidance for local governments around Proposition 123

The state has released new guidance for local governments that will help them better understand what is required in order for them to access funding through Proposition 123, including:

  • Establishing an affordable housing baseline (a.k.a. how many affordable housing units a locality currently has)
  • What a commitment to a 3% increase in affordable housing stock would look like
  • Whether an expedited housing approval process is needed for them to opt in
  • The timeline for localities to opt in

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Want to take a deeper dive? RMP is hosting sessions with elected officials from across the region to dive into this information as it continues to be updated and released. Learn more HERE.

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