On Friday, California Governor Gavin Newsom announced that the state will be allocating a total of $789.8 million in cap-and-trade funds to 24 projects across California. These projects aim to create thousands of affordable homes and improve infrastructure, including bikeways, zero-emission public transit, and pedestrian walkways.
The funding will go towards building 2,483 new rent-restricted homes in various communities throughout the state. This includes cities such as Berkeley, El Cerrito, Healdsburg, Hemet Inglewood King City Livingston Long Beach Los Angeles Oakland Oceanside Oxnard Red Bluff Sacramento San Bernardino San Diego San Francisco San Jose Walnut Creek and Los Angeles County.
This is the eighth round of grant awards for California’s Affordable Housing and Sustainable Communities program – one of the largest rounds yet. According to Gov. Newsom: “By creating livable communities with sustainable transportation options we can meet our climate targets while also providing affordable housing for all Californians.”
