LOS ANGELES, May 24, 2016 /PRNewswire-USNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds a "build by right" proposal by Gov. Jerry Brown that would create a voluntary permit streamlining approval process for developers to use.
"With a historically low homeownership rate of 54 percent and record high rents, the dream of owning a home in California has become increasingly more difficult to attain," said C.A.R. President Pat "Ziggy" Zicarelli. "C.A.R. recognizes the urgency of California's housing crisis and fully supports Gov. Brown's efforts to reduce development costs and improve the pace of housing production. We encourage the Legislature to include this proposal in its final state budget."
Gov. Brown's proposal, in the May revision to the 2016-17 budget, includes a "build by right" proposal that would create a voluntary permit streamlining approval process for developers to use. The proposal will exempt from detailed local government reviews developments already zoned and approved for housing when 5 to 20 percent of the newly constructed units are set aside for low-income residents.
Additionally, C.A.R. previously announced its support for a $1.3 billion proposal by the Assembly Housing and Community Development Committee to invest a portion of our state's budget surplus to address the state's housing crisis. C.A.R. formed an Affordable Workforce Housing Task Force to examine existing policies in California designed to expand the availability of "affordable housing" and to make recommendations to increase the availability of affordable work force housing in California.
Leading the way...® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/california-realtors-applaud-gov-browns-build-by-right-housing-proposal-300274027.html
SOURCE CALIFORNIA ASSOCIATION OF REALTORS