Following the recommendations of its staff, the Strategic Growth Council formally approved $122 million in grants for 28 projects designed to provide affordable housing and reduce carbon emissions throughout the state.
Property taxes collected by redevelopment agencies provide the largest ongoing source of funding for low- and moderate-income housing development in California – about $1 billion annually. How agencies account for and spend that money may be about to change in light of a state Senate investigation and front-page newspaper stories.
