California ‘Cap-And-Trade’ Program Provides $122 Million For Affordable Housing

According to scpr.org, California’s cap-and-trade program this year will provide $122 million in funding for affordable housing, including more than 800 new units in Southern California for lower-income residents.

28 winning projects are to be built using high energy-efficiency standards and will be located within a half mile of public transit stops.

California‚Äôs Strategic Growth Council, which picked the award recipients, said that’s in keeping with the spirit of the cap-and-trade program that collects fees from polluting companies to put toward addressing climate change.

The housing projects will “reduce as much greenhouse gas as taking all the cars in Newport Beach and Citrus Heights up north off the road for a year,” said Mike McCoy, the council’s executive director.

http://www.housingca.org/#!cap-and-trade/c1rev

http://www.hcd.ca.gov/financial-assistance/affordable-housing-and-sustainable-communities/