California YIMBY Statement on SB 937 – Governor Gavin Newsom Signs Legislation to Reduce Housing Costs

Law Lowers Finance Costs for New Homes

 “We have to do everything we can to reduce housing costs, and SB 937 is an important step”

SACRAMENTO — Today, California Governor Gavin Newsom signed into law SB 937, a bill by Senator Scott Wiener (San Francisco) that would reduce housing construction costs by shifting when local jurisdictions collect the impact fees on new homes. California YIMBY, the California Housing Consortium, and the Housing Action Coalition co-sponsored the bill.

California YIMBY CEO Brian Hanlon offered the following statement in response to the Governor’s signature: 

“California has some of the highest housing and home building costs in the country, and we have to do everything we can to lower those costs, “ said Brian Hanlon, CEO of California YIMBY. “By signing SB 937 into law, Governor Newsom will help home builders save money on construction – savings that will translate into lower housing costs for hard-working Californians. I want to thank Senator Scott Wiener for his leadership on housing affordability and his steadfast commitment to making California an affordable place to live, work, and raise a family.”

Learn more: https://cayimby.org/legislation/sb-937/ 

About California YIMBY

California YIMBY is a community of neighbors who welcome more neighbors. We believe that an equitable California begins with abundant, secure, affordable housing. We focus on housing and land use policy at the state and local level to ensure grassroots organizers and city leaders have the tools they need to accelerate home building. Learn more: https://cayimby.org/