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Fiona Ma is an American politician and accountant. She has been serving as the California state treasurer since January 7, 2019. She previously was a member of the California Board of Equalization (2015–2019), the California State Assembly (2006–2012), and the San Francisco Board of Supervisors (2002–2006).
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Silicon Valley, a region located in the southern part of the San Francisco Bay Area, is one of the most expensive regions to live in the United States, and many residents lack access to affordable housing. In 2018, the median home price across the area was $1.18 million, the highest of the 100 largest metro areas in the U.S. The growth of the technology industry in the area, including major companies like Google, Facebook, and Apple, is frequently cited as a major cause of the issue. There have been local efforts to address affordable housing, as well as state measures in response to housing issues across California.
The term "affordable housing" refers to housing that is considered economically accessible for individuals and families whose household income falls at or below the Area Median Income (AMI), as evaluated by either national or local government authorities through an officially recognized housing affordability index. However, in the US, the term is mostly used to refer to housing units that are deed restricted to households considered Low-Income, Very Low-Income, and Extremely Low-Income. These units are most often constructed by non-profit "affordable housing developers" who use a combination of private money and government subsidies. For-profit developers, when building market-rate developments, may include some "affordable" units, if required as part of a city's inclusionary zoning mandate.
References
- ↑ "California Code, GOV 65915". leginfo.legislature.ca.gov. Retrieved 2024-10-19.
- ↑ CP&DR. "Density Legislation Riles Local Planners". www.cp-dr.com. Retrieved 2024-10-19.
- ↑ CP&DR. "Governor Signs Housing Bills, Rail Bond". www.cp-dr.com. Retrieved 2024-10-19.
- ↑ CP&DR. "Governor Takes Action on Important Housing Bills". www.cp-dr.com. Retrieved 2024-10-19.
- ↑ "AB 2222 Restricts Use of State Density Bonus Law | Legal Alerts | Allen Matkins". Allen Matkins - AB 2222 Restricts Use of State Density Bonus Law | Legal Alerts | Allen Matkins. Retrieved 2024-10-19.
- ↑ "California Governor Signs Four Bills Affecting Density Bonus Projects". JD Supra. Retrieved 2024-10-19.
- ↑ "Housing Density Bonus and Reporting Changes for Local Agencies". bbklaw.com. 2024-10-31. Retrieved 2024-10-19.
- ↑ "Newsom Signs Gonzalez Incentives Bill For Affordable Housing Developers". KPBS Public Media. 2020-09-28. Retrieved 2024-10-19.
- ↑ "Governor Signs Density Bonus Law Clean Up Legislation". Allen Matkins - Governor Signs Density Bonus Law Clean Up Legislation | Legal Alerts. Retrieved 2024-10-19.
- ↑ "California's 2023 Housing Laws: What You Need to Know | Insights | Holland & Knight". www.hklaw.com. Retrieved 2024-10-19.
- ↑ "AB 1287 – Legislature Creates an (Additional) Density Bonus for Very Low- and Middle-Income Households". www.coxcastle.com. Retrieved 2024-10-19.