This past Wednesday's PMIB hearing was a much better experience than the meeting a month earlier.  The state is planning a $4 billion bond issuance next week and depending on the market's response, another issuance of approximately $1.5 billion in late April.  At the PMIB meeting, the board approved staff's recommendation to make available $500 million of the $4 billion for "high priority projects" as to be recommended by the Department of Finance (DOF).  The PMIB board will consider DOF's recommendations at a special meeting scheduled for Friday, April 3.

This morning CHC board and staff members Dianne Spaulding, Carol Galante, Lynn Jacobs and Jeff Loustau participated in a press conference organized by Governor Schwarzenegger to highlight the success of Proposition 1C and the importance of state housing programs to stimulate the California economy.  The event was held at a BRIDGE Housing Development in Palo Alto held up as an example of how Prop 1C funds are already being used to create much need housing and keep California's

Contact: Scott Macdonald

Office of Senator Denise Ducheny

(310) 996-2671

FOR IMMEDIATE RELEASE

June 27, 2007

SHORTAGE DRIVES UP HOUSING COSTS EVEN AS SALES PLUMMET

By Donna Kimura

AFFORDABLE HOUSING FINANCE • MAY 2007

SACRAMENTO, CA.—The first of the $2.85 billion Proposition 1C bond money is expected to hit the streets this summer. California voters approved the hefty housing bond measure in November 2006.

Contact: Scott Macdonald

Office of Senator Denise Ducheny

 (310) 996-2671

FOR IMMEDIATE RELEASE

May 3, 2007

POPULATION BOOMS + HOUSING LAGS = PRICES SKYROCKET

Contact: John Ferrera

Office of Senator Ducheny

(916) 651-4040

FOR IMMEDIATE RELEASE

April 26, 2007

SECOND UNANIMOUS VOTE FOR THE HOUSING AFFORDABILITY ACT 

            SACRAMENTO – The Housing Affordability Act, SB 303-Ducheny (D-San Diego) gained momentum today as the Senate Environmental Quality Committee – in a specially called meeting -- voted 7-0 to give it the stamp of approval and move it along.