The annual California Economic Summit was held last November. The Summit, a statewide gathering of public- and private-sector groups, focuses on advancing the progress made in workforce preparation, housing and community development. It produced a new 2019 Roadmap to Shared Prosperity, “an updated plan for the state and California’s regions to work together to combat rising income inequality, growing economic insecurity, and declining upward mobility.”
Not surprisingly, housing is among the issues tackled in the document.
” With the supply of housing lagging far below demand—and with half of Californians now unable to rent or buy a home in their communities—the Summit has highlighted the need for California to produce at least one million more homes of all types in the next 10 years than it is currently producing.”
The summit seeks to better align state and local government, urban and rural economies, and resources from the public and private sectors to achieve their goals. A major element of the summit’s housing agenda includes “Building the housing Californians need—and people of all incomes can afford”.
The roadmap makes the following recommendations:
- Define where to promote development—and on what scale
- Promote all types of housing, including affordable and market-rate
- Speed up the approval process
- Lower the cost of development
- Develop the workforce needed to build new housing
- Ensure new housing growth is sustainable for communities
- Help local governments pay for new housing and related infrastructure
- Protect environmental quality
- Ensure equal opportunity for all residents
In 2019, the Summit will continue to support proposals that advance its “all of the above” agenda—from accelerating approvals and promoting affordable housing development to improving renter protections.
Priority actions for 2019 include:
• Define where to build: Whether the target is one million or 3.5 million units, CA Fwd will highlight where new incentives could be targeted to have the most impact—from “unclogging” hundreds of thousands of projects already in the statewide development pipeline to identifying infill opportunities in expensive job centers where both affordable and market-rate housing are sorely needed, while supporting and investing in existing residents and communities.
• Help communities pay for new housing: To get this housing built, CA Fwd will work with regional partners to produce a set of fiscal incentives that encourage production of housing on the scale needed to meet state goals and at a price point Californians of all incomes can afford. Strategies will be developed that support both rural and urban regions.
For more information and to read 2018 Summit session notes, Click HERE