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Senate committee backs bill to fund acquisition-based preservation of affordable rentals
Summary
The Senate Housing Committee voted unanimously to advance SB 1091, which would create a Community Anti-Displacement and Preservation (CAP) program in HCD to fund nonprofits and local jurisdictions to acquire and preserve naturally occurring affordable rental housing.
Senator Caballero urged the Senate Standing Committee on Housing on Tuesday to approve SB 1091, a bill that would create a Community Anti-Displacement and Preservation (CAP) program in the Department of Housing and Community Development to finance and support acquisition of naturally occurring affordable rental housing.
Advocates said the program would speed preservation of low‑cost units and prevent displacement. "Acquisition preservation is a critical tool in the state's housing toolbox," Justine Marcus, state and local…
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