AB 10 can help get affordable housing built in your community

It’s no secret that housing is getting more and more expensive. That’s why Eden Housing has spent decades building and maintaining high-quality, service-enhanced affordable housing for residents all over California. And that’s why Eden is supporting a new effort in the state Capitol to expand one of the best tools we have for funding our developments: the state low-income housing tax credit.

Assemblymember David Chiu (D-San Francisco) and other housing leaders in the state Legislature introduced a bill in December that would boost this vital tax credit program to $500 million—from less than $100 million today. This bill will expand the pool of investors who can invest in affordable housing and lead directly to the construction of more affordable homes. The new governor, Gavin Newsom, has included the idea in his proposed budget, and Eden is committed to working with state leaders to make this a reality.

With more than 20,000 households on Eden’s waiting lists, it’s clear that existing resources haven’t been enough to provide the housing Californians desperately need. Expanding the tax credit program can change that—allowing developers to leverage additional federal funding, generating more resources for affordable housing, and making sure more residents have access to a safe, decent, and affordable home.  

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