Act to Protect Affordable Housing in California

Urge Congress to save tax credit, private activity bonds

Act to Protect Affordable Housing in California

Urge Congress to save tax credit, private activity bonds

Residents, children, community members and police celebrate Jamboree's grand re-opening of Woodglen Vista in Santee, CA.

As Congress works to pass a new tax reform bill, part of the newly passed House of Representative’s bill severely and disproportionately effects California’s ability to fund much-needed affordable housing. Specifically, H.R.1 proposes a full elimination of tax exempt private activity bonds (PABs) and the effective elimination of 4% Low Income Housing Tax Credits.

Why Does this Matter to CA?

Affordable housing in California is built and financed through public and private funding – including tax-free private equity bonds and tax credits transferred from developers to corporations to lower taxes. California is the largest state recipient of these funds. Crippled with a high cost of living (twice the national average), one-fifth of the nation’s total homeless and a population where one-in-three renter’s devote more than half of their wages to rent, the elimination of these programs would cripple our state’s ability to provide affordable housing.

To learn more, check out these industry perspectives:

Why Does this Matter to Jamboree?

Jamboree uses a combination of public and private funding to build our affordable housing communities. More than half of our 8,200 units are subsidized through the Low Income Housing Tax Credit (LIHTC) program.

In Orange County, the homeless population continues to grow – reinforcing the urgent need for this vital affordable housing. In fact, a new study on the cost of homelessness not only underscores the need for more affordable housing, but highlights the high cost of homelessness to the entire county. At a time when costs are hurting all of our county and – more importantly – residents are without a place to call home, we must be doing more, not less, to provide this fundamental human need.

Take Action

That’s why Jamboree joins with the National Low Income Housing Coalition and encourages you to stay up-to-date on how to protect affordable housing statewide and nationwide. On the website, take a moment to check out the most recent calls to action.

Jamboree Housing Corporation
Jamboree Housing Corporation
17701 Cowan Ave, Suite 200
Irvine, CA 92614
(949) 263-8676
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© Copyright 2017 Jamboree Housing Corporation.
All Rights Reserved.
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