Amid a $22 billion shortfall, Gov. Gavin Newsom’s 2023-24 state budget proposal (pdf) revealed this week suggests delaying several affordable student housing projects.
Newsom recommended delaying $250 million of anticipated funding to the Higher Education Student Housing Grant program—established under the 2021 Budget Act—which provides funds to the state’s community college, University of California (UC), and California State University (CSU) systems to build affordable student housing near campus for low-income students.
Additionally, the governor suggested postponing by one year the creation of a student housing revolving loan program to the higher education systems—originally promised in last year’s budget….