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Send A Letter of Support for AB 464

Please submit the support letter to our legislative position portal on your letterhead

Sample Support Letter – AB 464 (Mullin)

Please also send a copy to: bobbi@todco.org

(Date)

Assembly member Kevin Mullin

State Capitol, P.O. Box 942849

Sacramento, CA 94249-0064

Re:      Support for AB 464 (Mullin), Enhanced Infrastructure Financing Districts

Dear Assembly member Mullin,

(Your organization) is pleased to write in support of the AB 464 (as amended 3/25/2021). This bill would make small but necessary changes to the Enhanced Infrastructure Financing District (“EIFD”) mechanism in order to provide additional capital investment for affordable housing, homeless shelters and services, as well as small business assistance. (Describe your organization and why it cares about these issues)

The COVID-19 Pandemic is devastating the State’s economy and businesses on top of the already existing housing crisis throughout the state.  A California recovery will require massive and unprecedented public investment in affordable housing, community-building infrastructure, small businesses, and community-supporting assets.   A recent report by the Governor’s Office of Planning explored the five EIFDs that had been formed and found they were contributing to housing production by providing approximately 38,000 units and were largely economic and transit development projects. 

While dozens more are in early stages of consideration across the state, EIFDs as a viable financing mechanism are just not activated sufficiently across the state. To open the door for wider use of EIFDs and to address the impacts of the pandemic, AB 464 was introduced to allow California cities to assist small businesses – the sector of the State’s economy that has been most devastated by the Covid-19 Pandemic – to buy and/or renovate their own business locations, as part of what projects an EIFD can fund and therefore assist in the economic recovery of a city. This bill, if passed, also expands the types of facilities an EIFD may fund to include not only small businesses but also the acquisition/improvement of facilities for community nonprofit agencies that provide homeless, youth, health, and social services.

The concept behind EIFDs also polls well among California Voters and more so when the small business component is added. In a California Voter Survey conducted by David Binder Research for Build Affordable Faster CA (Sample Size: 600, Margin of Error: ±4.0% taken during January 27-31, 2021), when voters were asked about support for TIFs and EIFDs, 51% supported the concept but when explained that the new legislation would allow cities to providing financing to small businesses to buy or renovate their locations, this support grew to 73%.

If you have any questions about our support, please feel free to contact (your name) at (your contact info).

Sincerely,

 

(Your name)

(Your Title)

(Your organization)