Tuesday, Aug 14 2012 2:07PM
State officials continue to reduce funding for affordable housing projects throughout California, leaving many residents in rural communities without a solution to meet their expanding needs.
State officials continue to reduce funding for affordable housing projects throughout California, leaving many residents in rural communities without a solution to meet their expanding needs.
The Los Angeles Times reports state officials took away $12.1 million in funds that were needed by local officials to complete a project in Riverside County. The millions of dollars that were invested were supposed to build a new manufactured home community.
In additional to the local loss of nearly $1 billion in annual funding, made in an attempt to eliminate state debt, federal funding for the development and maintenance of affordable housing has also been reduced in recent years. The news source notes that while California received $131 million via the HOME Investment Partnerships Program, the amount is less than half when compared to 2010 funding.
Nearly 177 housing projects are predicted to be affected by the cuts in funding while the demand for affordable housing in the state remains significantly high.
For further information, check out this source:
The Los Angeles Times