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Download PDF
April – May 2019
Welcome to the third issue of my newsletter! In this issue, we will be covering affordable housing.
There has perhaps never been a period in state history in which more people and resources have been aligned to address the affordable housing crisis. As State Treasurer, my housing and economic development goals are broadly to increase housing production, contain costs, spur new technologies, create more opportunities for people of color and women to participate in developments, and to support efforts that empower individuals in distressed communities to become integral to their community’s revitalization.
By advancing the right combination of programs and incentives, I believe we can build wealth in our communities that will help all Californians realize the American Dream, regardless of the zip code someone lives in.
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Truly a California for All
By Deputy Treasurer Jovan Agee
California has an affordability problem, especially when it comes to housing in this state. The future of our residents’ health, safety and wealth depends on access to housing that is affordable.
Governor Gavin Newsom, as part of his January budget unveiling, announced his goal to build 3.5 million homes by 2025. State Treasurer Fiona Ma is his strongest ally in helping to reach that number. Achieving our goal means getting investors, developers and local and state agencies to construct at a pace of 500,000 housing units per year.
Click to Read the Full Article
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ABCs of the BCAs
Meet three BCAs that play big roles in California affordable housing
This month’s feature is on The California Tax Credit Allocation Committee (CTCAC), California Debt Limit Allocation Committee (CDLAC), and California Pollution Control Financing Authority (CPCFA)
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Heart of The Treasury
Meet Ashley Peters, our April employee of the month! A contract analyst in the Business Services Unit of the State Treasurer’s Office (STO), Ashley began working for us in October 2012 as an office assistant in the administration division.
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Ask the Treasurer
Dear Fiona,
Can the Treasurer’s Office please provide me with a list of affordable housing in the city of Los Angeles?
– Courtney
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Calendar of Upcoming BCA Events
Boards, Commissions and Authorities (BCAs) within the State Treasurer’s Office
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This newsletter features events scheduled for CAEAFTA.
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CAEATFA
May 21 – 10:30 AM
The California Alternative Energy and Advanced Transportation Financing Authority, (CAEATFA) Board Meeting
See All Events
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Top Billing
A monthly update on key legislation for Treasurer Ma
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529 ScholarShare Tax Deduction on State Income Taxes
Assembly Bill 211, Ian Calderon (D-Whittier) https://a57.asmdc.org/
Provides a state income tax deduction for those who contribute to a California ScholarShare 529 account, not to exceed $5,000 for single taxpayers, or $10,000 for joint filers.
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The Vault
Calendar of recent and upcoming pubic finance activities and bond sales
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April 11
State of California General Obligation (GO) Bonds ($2.02 billion)
The State Treasurer on April 11 announced the sale of $2.02 billion of State of California general obligation (GO) bonds, which included $1.63 billion of bonds used to refinance more than $1.88 billion of bonds issued in April 2009 when the State was experiencing budget challenges and interest rates were higher. Refinancing of the old debt will save taxpayers more than $403 million in debt service costs over the next 10 years, or more than $362 million on a present value basis. These savings along with the savings from the State’s March GO bond sale will save taxpayers more than $1.42 billion over the next 19 years.
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The Ma Squad
Travels in February in photos
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Treasurer Ma meeting with representatives of WISR – a networking and professional development organization for women in the solid waste and recycling industry.
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Treasurer Ma with Lieutenant Governor Eleni Kounalakis, State Controller Betty Yee, and journalists Ashley Zavala from KRON and Carla Marinucci of Politico, at a panel discussion on women empowerment presented by the Sacramento Press Club.
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At the inaugural small business seminar in San Gabriel Valley. Treasurer Ma will host her next financial literacy seminars in San Mateo on April 30 and May 17 in San Francisco.
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Testifying at the Senate Government and Finance Committee in support of Senate President Pro Tempore Toni Atkins’ bill (SB 451) to establish a tax credit for the preservation and rehabilitation of historic buildings in California.
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Chief of Staff Genevieve Jopanda with the visiting Piedmont Council Boy Scouts of America.
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Public tours of your state Capitol are conducted each week,
every hour during business hours.
Just show up at Room B-27! For more details, call (916) 324-0333.
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