As Project Homekey funds begin to dry up, Gov. Gavin Newsom on Monday said he’s seeking an extra $200 million to help more cities and counties convert property into homeless housing.
If approved by the state’s Joint Legislative Budget Committee, the request would increase the innovative program’s buying power by a third. So far, Project Homekey has allocated $449.9 million of its $600 million budget, funding 3,351 new housing units. Newsom announced 19 new projects — including one in Alameda County — on Monday.
“Not only is Homekey unprecedented in providing capital to house people experiencing homelessness, but we are moving with unprecedented speed,” Newsom wrote in a news release. “Most of these projects will be ready to house people very soon after the acquisitions are complete, providing immediate help to our most vulnerable residents.”
Among the $137 million awarded in the third round of funding Monday, nearly $14.5 million