In October 2014, the California Department of Housing and Community Development (HCD), the California Tax Credit Allocation Committee (TCAC), the California Housing Finance Agency (CalHFA), and the California Debt Limit Allocation Committee (CDLAC) presented a large-scale housing development cost study intended to measure the factors that influence the cost of building affordable rental housing in California.
According to the National Center of Housing Policy, more than a quarter of working renters nationally spend half or more of their income on housing expenses. Among all 50 states, California has the highest fraction of working renters who spend half or more of their income on housing.
In addition to the financial stress that high housing costs can place on households, research suggests that extreme housing burdens undermine educational attainment and are associated with poorer health outcomes and other social pathologies.
We at the HASBARCO are well aware of these issues; in fact, they are the reason for our presence in Santa Barbara County since 1941.
The Section 8 Housing Choice Voucher (HCV) Program allows low-income households (voucher holders) to pay approximately one-third of their income in rent and utilities to participating housing providers. The remainder of the rent is paid through federal subsidies to the housing providers by HASBARCO.
HASBARCO contracts with the U.S. Department of Housing and Urban Development to administer the Housing Choice Voucher Program for low-income families, the elderly and the disabled.