Senator Pérez introduces bills to finance rebuilding fire-devastated neighborhoods, support housing development, and protect against investment speculators

Sacramento – Senator Sasha Renée Pérez (D-Pasadena) has introduced SB 782 and SB 658 to protect communities from predatory property land grabs and provide funding to rebuild neighborhoods affected by the Los Angeles County Wildfires.

“Altadena was hit especially hard by the Eaton Fire, just as residents in the Palisades Fire area also suffered greatly. To prevent displacement and protect housing, we need bold legislation that keeps properties within the community rather than in the hands of outside investors who may not prioritize local needs,” said Senator Sasha Renée Pérez (D-Pasadena). “Speculators are already looking to exploit vulnerable residents with low-ball offers, taking advantage of fire victims in their moment of distress. Statewide action is urgently needed to support the development of housing, protect renters, and preserve affordability. These proposals ensure that local communities affected by disasters have a stronger stake in their recovery.”

SB 782 would create a special financing district to accelerate community recovery by providing funding through a community-based approach. Modeled after Enhanced Infrastructure Financing Districts (EIFDs), this type of financing uses a portion of future tax revenues to fund public infrastructure reconstruction and economic recovery initiatives. The goal is to help local communities rebuild quickly and effectively, ensuring stability and equitable development in the areas most affected by disaster. 

SB 658 would protect housing and commercial properties within the impacted Eaton and Palisades areas by granting public agencies and mission-driven nonprofits organizations, including community land trusts, the priority to purchase single-family homes, multifamily properties and commercial properties if the owners decide to sell. If a property owner choses to sell instead of rebuilding, local nonprofits, which are generally connected to the community and focused on long-term stability, would have the chance to negotiate a fair purchase agreement. If no agreement is reached, they would have the ability to match any future market offer and purchase the property. 

“In the aftermath of the Eaton and Palisades fires, predatory speculators now threaten to destroy the rich cultural history of these communities and displace the families and businesses that built them over generations,” said Doug Smith, Vice President of Policy and Legal Strategy at Inclusive Action for the City. “We can’t let one disaster produce another. By providing community organizations with a first opportunity to purchase properties in impacted areas, SB 658 will keep land in community hands and help advance a just recovery.”

The Eaton and Palisades Fires destroyed more than 16,000 structures including homes, apartments, and commercial buildings. An additional 2,000 structures sustained fire damage.

“With so much lost, the road to recovery demands exploring every possible avenue to ensure communities have the resources needed to recover and thrive once again,” concluded Senator Sasha Renée Pérez. 

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Senator Sasha Renée Pérez is Chair of the Senate Education Committee and represents the 25th Senate District that includes the communities of Glendale, Pasadena, Alhambra, Altadena, Arcadia, Claremont, Glendora, La Cañada Flintridge, La Crescenta-Montrose, Monrovia, Monterey Park, Rosemead, San Gabriel, San Marino, Sierra Madre, South Pasadena, Temple City, Fontana, Rancho Cucamonga, Upland, and San Antonio Heights.