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$150 Million for Affordable Housing

BT&H Secretary Contreras-Sweet Announces $150 Million for Affordable Housing and Economic Development Across the State

June 25, 2003—Today California's Secretary of Business, Transportation and Housing Maria Contreras-Sweet announced the award of over $150 million in grant and loan funds to build affordable housing and spur economic development throughout the state. The State housing funds announced will produce over 5,500 permanent affordable housing units and homeless shelter beds in communities across the state. The funds will go to provide financing for the development of new affordable rental housing, homeless shelters and other community improvement projects in more than 100 local communities across the state.

"Today we are taking a giant step forward to meet California's affordable housing needs" said Secretary Contreras-Sweet. "We are investing in new housing developments across the state—creating jobs and spurring the local economy." (more...)