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City of Pleasanton Legislative Platform 2016 <br /> 000 <br /> �� LEAGUE° <br /> Ut CALIEUI:N I,� 1400 K Street,Suite 400•Sacramento,California 95814 <br /> C I T I ES Phone:916.658.8200 Fax:916.658.8240 <br /> www.cacities.org <br /> March 23,2016 <br /> The Honorable David Chiu <br /> Chair,Assembly Housing and Community Development Committee <br /> Legislative Office Building <br /> 1020 N Street,Room 162 <br /> Sacramento,CA 95814 <br /> RE: AB 2817(Chiu)Tax Credits: Low-Income Housina:Allocation Increase <br /> NOTICE OF SUPPORT(As amended 03/17/2016) <br /> Dear Assembly Member Chiu: <br /> The League of California Cities is pleased to support your AB 2817(Chiu),which would increase <br /> the state's Low Income Housing Tax Credit by$300 million to build and rehabilitate affordable <br /> housing. The bill also increases the amount available for farmworker housing. <br /> The League has longstanding policy supporting additional state funding for affordable housing. <br /> The challenges of funding affordable housing development,however,have increased significantly <br /> with the loss of over$1 billion per year of redevelopment housing funds. <br /> Increasing available state tax credits for low-income housing is a great step in beginning to <br /> reassemble affordable housing funding streams in California. These credits will leverage <br /> additional federal tax credits and tax exempt bond authority and help build many additional units. <br /> The additional jobs and economic activity will also contribute to state and local tax revenues. <br /> For these reasons,the League of California Cities supports this legislation. If you have any <br /> questions regarding the League's position on this bill,please call Dan Carrigg,Senior Director,at <br /> (916)658-8222 or Kendra Harris,Legislative Representative at(916)658-8250. <br /> Sincerely, <br /> ennin � <br /> Assistant Legislative Director <br /> cc: Members,Assembly Housing and Community Development Committee <br /> Lisa Engel,Chief Consultant,Assembly Housing&Community Development Committee <br /> William Weber,Principal Consultant,Assembly Republican Caucus <br /> 16IPage <br />