By Tim Houchen
February 29, 2020 —
To inform affordable housing preservation efforts across the state, the California Housing Partnership annually assesses the historical loss and conversion risk of federally- and state-subsidized affordable rental properties. The February 2020 report, Affordable Homes at Risk, finds that California has already lost 15,004 affordable rental homes and that another 31,821 affordable rental homes are currently at risk of market rate conversion in the next decade. These homes house thousands of low-income seniors, families and individuals.
The report indicates that Orange County is second only to L.A. County in the total number of affordable homes at-risk with a total of 3,557 homes at 11% of affordable homes at-risk statewide. When looking exclusively at the fifteen largest counties, Orange County has the highest proportion of at-risk homes compared to total affordable housing stock (15 percent), followed by Los Angeles County .
The report also makes recommendations for ways that State leaders can provide the tools necessary to effectively preserve existing affordable housing stock in California.
- Pass legislation to authorize the creation of a new Affordable Housing Preservation Tax Credit—AB 2058
- Make permanent the $500 million annual increase to the California Low-Income Housing Tax Credit Program authorized by AB 101 in 2019
- Aggressively enforce the State Preservation Notice Law as expanded by AB 1521 in 2017.