$27 Million Glendale Affordable Housing Effort Heads to the Governor’s Office

Thursday, September 12 2019

Sacramento, California – Today, SB 532 authored by State Senator Anthony J. Portantino (D–La Cañada Flintridge) passed the California State Legislature. Senator Portantino introduced SB 532 at the request of the City of Glendale. After the dissolution of Redevelopment Agencies (RDAs), Glendale was left with $27 million dollars in bond proceeds but is precluded from using these funds for housing.  SB 532 will give Glendale the ability to use these locally derived bond funds exclusively for affordable housing.    

“Glendale is a special city that has long sought to use Redevelopment tools to preserve its historic landmarks and to build affordable housing.  It was a shame that these tools were taken away and left Glendale and other cities unable to use certain bonds for laudable purposes.  I am very grateful to the city for asking me to carry this proposal and to be in a position to help them,” commented Senator Portantino.

SB 532 would repurpose stalled redevelopment bonds for affordable housing. The bill would authorize a successor agency to use remaining bond funds for the purposes of preserving affordable housing within the district.  Senator Portantino strongly opposed the dissolution of Redevelopment for its impact on affordable housing efforts such as Glendale’s.  The Senator is proud to help the City of Glendale take advantage of this opportunity to build more affordable housing.

“I was very pleased to fly to Sacramento to offer testimony in support of SB 532.  Glendale needs the state to grant us flexibility on the bond dollars so we can move forward with several opportunities on the table.  We are very grateful for this legislative solution.  It’s a testament to our positive working relationship and the responsiveness of senator’s office on our behalf.  We appreciated Senator Portantino sticking up for us when he was in the Assembly and he’s continuing to do it in the Senate,” added Mayor Najarian.