Using Cap-and-Trade Funding to Address Homelessness

 

Homelessness is a growing concern. California has 20 percent of the country's homeless population, almost 114,000 people. Most of California's homeless people are in Los Angeles County, which has more than three times the homeless population of the Bay Area. L.A.'s chronically homeless population has grown 55%, to 12,536, since 2013. Almost two-thirds of California’s homeless people sleep outside with no shelter.

Cap-and-Trade funds can help address homelessness and affordable housing. Los Angeles was awarded $64.6 million in grants in zero-and low- interest loans from the state’s cap-and-trade fund to build eco-friendly affordable housing projects near job centers and transit in order to reduce car trips. The projects include four homeless housing developments totaling 348 units, and two developments with a combined 205 units that will be offered at affordable or below-market rates.

Does a homeless shelter create net benefits for the community? To learn more about how your local agency can access cap-and-trade funds, contact the staff at RSG today.

Written by Alexa Smittle, a Principal at RSG, and Jeff Khau, a Senior Analyst at RSG