SB 1156: New options for transit-oriented development

After the legislature put a stop to redevelopment funding in 2011, cities and counties have struggled to finance transit-oriented development. SB 1156 (Steinberg) would have provided a new financing option for cities and counties to support sustainable economic development and promoted affordable housing near transit. Though Governor Brown vetoed the bill, the need for it has not dissipated, and the effort to replace the loss of redevelopment funds will continue.