Katie Porter

So that also adds to the time unnecessarily without providing much benefit of those smaller unit projects, which we need a lot of.

Yes, we need all of the big units too, but we've got a lot of different geographies in California.

They're going to solve this problem different ways, but they all need to do it much faster because time is money.

This is not a surprise because, look, affordable housing projects face more delays.

They face more obstacles.

They face more community resistance.

They face more restrictions on zoning.

People don't necessarily want them in a lot of our communities.

And so the other piece of this is that land becomes more expensive every time you have uncertainties.

about whether something is going to happen.

The costs go up.

The other issue is that affordable housing developers are piecing together financing from seven different pools of money that are all designed to make a contribution.

And you just as soon get the seventh thing and you're ready to go and then the seventh one expires or you lose that funding or someone changes the term of a program.

So one consolidated bigger pot of money, which is more similar to what market rate's using.

Right, they're going to Wall Street, they're getting the money and they're using it.

One consolidated pot of money would help.

The other thing is the state should be putting land

Up for affordable housing.

That is one of the major factors.

It's one of the hardest ones to solve.