Dear friends,

This is an urgent moment – we need your help to pass one of our priority bills to make it easier and less expensive to build new housing.

SB 937 helps lower the cost of the impact fees that cities charge builders when they build new housing. The bill achieves this by delaying when fees are collected by local jurisdictions until the building is complete, rather than at the building permitting stage – which allows builders to cover the costs with lower-interest mortgages, rather than high-interest construction loans. The bill could save tens of thousands of dollars per home – just on financing costs.

SB 937 will be up for an Assembly floor vote as early as today, and it must pass by Saturday's deadline. Opponents are mobilizing to try and defeat it. We need you to help show that Californians support this bill.

This is urgent: Please send a message to your Assembly member and urge them to vote YES on SB 937 – help lower construction costs and tackle our affordability crisis!

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Forcing builders to cover the cost of local fees at the permitting stage, rather than when the building is complete, can be catastrophic – especially when both interest rates and construction costs are so high.

But we can help home builders overcome these high costs with good public policy. SB 937, by Senator Scott Wiener, requires jurisdictions to delay collecting their fees until new homes have a "certificate of occupancy."

Delaying payment allows fees to be paid from the building’s revenues (rents or mortgages) – which have much lower (or no) interest rates than construction loans, and thereby reduce financing costs for homebuilding.

SB 937 passed the State Senate and has also passed its key committee votes in the State Assembly. It must pass its final hurdle on the Assembly floor by the time the session ends on Saturday. But we've seen great bills get stuck on that last vote, and opponents are mobilizing right now to try and stop this bill. We need your help to continue the momentum!

Send a message to your Assemblymember: Vote YES on SB 937 and help get more housing built to tackle our affordability crisis!

Thank you for taking action for housing abundance in California.

Matthew

Matthew Lewis
Communications Director
California YIMBY

California YIMBY is a movement dedicated to ending our state’s housing crisis and building a more inclusive, affordable, and accessible state for ALL Californians. If you were forwarded this email, you can join our movement here. DONATE NOW » Want to keep track of housing issues and the YIMBY movement? Sign up for the HomeWork, our newsletter here.

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