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New California Gov. @GavinNewsom is proposing a huge new investment in low-income housing and a host of new policies to boost housing production overall in his first budget
This looks like the biggest allocation and deal. $750 million to cities and counties to help spur production 
Here’s $500 million for new homelessness funding
This looks like the biggest policy change. Newsom wants to turn the state’s housing production goals process from a planning exercise to an actual production strategy
Recall that the state’s housing goals process is a disaster. My 2017 investigation latimes.com/projects/la-po…
On low-income housing subsides for building, Newsom wants to boost a tax credit program to $500m, which was a campaign promise
That’s my very brief initial take. Again there’s a ton here. Newsom is talking about the budget overall and I’ll have quotes from him, reaction and more details and analysis throughout the day. (And tbh, there’s enough in here to keep me busy for a few weeks)
For comparison’s sake, on state housing/homelessness spending overall. This year’s adopted budget is roughly $5b. Newsom is proposing $7.7b, which includes voter-approved housing bond from November
Wow. Newsom now talking about housing. He says if cities and countries don’t meet their housing production goals, the state will take away gas tax money from them
Cannot underscore how big a deal this is. The new governor says if cities don’t meet their housing goals they will lose transportation funds. A huge stick. “If you’re not hitting your goals, I don’t know why you should be getting the money.”
Newsom proposes giving homeless housing the same breaks under the California Environmental Quality Act that sports stadiums get. Should note that this is a good applause line but the current relief for stadiums don’t really work that well latimes.com/la-pol-sac-sta…
Meanwhile Gavin Newsom has been talking about the budget non stop for 50 minutes and we’ve hit on tattoo removal and black hawk helicopters. Now taking reporters questions
I just asked if Newsom supported #sb50 @Scott_Wiener’s housing density around transit bill. He didn’t commit but said he backed broad goals of it.
Whoa even more news. Newsom says he’s already talking with tech industry in Silicon Valley about businesses matching a state $500m affordable housing allocation
Seeing lots of chatter about Newsom saying he wants $500m in private dollars from Silicon Valley for affordable housing. He said he’s in initial discussions about it now, and gave few details. But it sounded like it’ll be more like a donation than a formal tax.
NEW STORY: Gov. @GavinNewsom's pitch to revamp the state’s housing goals and, for the first time, financially punish cities who don’t meet them. latimes.com/politics/la-po…
@GavinNewsom In the hoopla, it’s easy to lose sight of how hard it to hold cities accountable what they have control over when it comes to housing and hold them harmless for what they don’t. Taking transportation money away has been talked about before but has always failed on the details.
