financetom
News
financetom
/
News
/
With California having nearly a third of America’s homeless, Gavin Newsom leans into the ‘Yes in God’s backyard’ movement
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
With California having nearly a third of America’s homeless, Gavin Newsom leans into the ‘Yes in God’s backyard’ movement
Jan 15, 2024 7:08 PM

  California's New Law: Turning Parking Lots into Affordable Housing

  Introduction

  In an effort to combat the ongoing homeless crisis, California has enacted a new law that allows religious institutions and nonprofit colleges to convert their parking lots and other properties into low-income housing.

  The Law's Provisions

  The law, signed by Governor Gavin Newsom, rezones land owned by religious institutions and nonprofit colleges to allow for affordable housing. Starting in 2024, these institutions can bypass most local permitting and environmental review rules, which can be costly and lengthy. The law is set to expire in 2036.

  Addressing the Homeless Crisis

  California is home to nearly a third of all homeless people in the United States. This crisis has sparked a movement among religious institutions, known as "yes in God's backyard" or "YIGBY," with a number of housing projects already in the works.

  Overcoming Obstacles

  Churches and colleges often face challenges in converting their surplus land into housing due to zoning restrictions. The new law aims to remove these hurdles and facilitate the development of much-needed affordable housing.

  Potential for Housing Development

  A study by the University of California, Berkeley, Terner Center for Housing Innovation estimated that California religious and higher education campuses have over 170,000 acres of land eligible for affordable housing development under the new law.

  Opposition and Concerns

  Several cities opposed the bill, arguing that it would take away local control over housing developments. Environmental groups also expressed concerns about the potential impact on coastal zones and wildfire-prone areas.

  Addressing Opposition and Concerns

  Governor Newsom worked with the Coastal Commission to clarify that the legislation would not apply to environmentally sensitive or wildfire-prone areas. Amendments were also added to address labor concerns and ensure prevailing wages for workers.

  Additional Housing Initiatives

  In addition to the new law, Governor Newsom also signed another bill extending the life of a landmark law streamlining rules for housing projects. This law has led to the construction of thousands of homes, including affordable housing.

  Addressing Homelessness

  The new laws are part of a broader effort to address homelessness in California. The governor has also announced plans to build 1,200 tiny homes in four cities to provide shelter for the homeless.

  Conclusion

  California's new law is a significant step in addressing the state's homeless crisis and increasing the availability of affordable housing. By allowing religious institutions and nonprofit colleges to convert their properties into housing, the law aims to make a meaningful impact on the lives of those in need.
Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Yen wallows at eight-month trough on stimulus pressures
Yen wallows at eight-month trough on stimulus pressures
Nov 3, 2025
The Japanese yen weakened in Asian trading on Monday at the start of the week, resuming losses against the US dollar after a brief rebound on Friday. The currency was once again nearing its eight-month low, pressured by expectations of expansive fiscal stimulus under Prime Minister Sanae Takaichi. Japans new prime minister is reportedly preparing a massive stimulus package aimed...
How Europe’s bureaucracy is stifling a $110 billion hydrogen boom
How Europe’s bureaucracy is stifling a $110 billion hydrogen boom
Oct 31, 2025
The contours of the global hydrogen industry came into sharper focus this month during European Hydrogen Week in Brussels particularly from the perspective of importing nations. Yet, the mood was one of frustration. Many participants described Europes regulatory framework as overly complex and slow-moving, causing project delays and deterring investors. Still, there was an undercurrent of inevitability, given binding EU...
Euro settles above 3-month trough amid negative pressures
Euro settles above 3-month trough amid negative pressures
Nov 3, 2025
The euro edged slightly higher in European trading on Monday against a basket of major currencies, attempting to recover from a three-month low versus the US dollar amid renewed buying at lower levels. However, the single currency remains under downward pressure after eurozone inflation slowed in October, easing price pressures on European Central Bank policymakers and reinforcing expectations for an...
Yen boosted by finance minister's statements, Dollar at three-month high
Yen boosted by finance minister's statements, Dollar at three-month high
Oct 31, 2025
The Japanese yen rose on Friday after newly appointed Finance Minister Satsuki Katayama said the government is monitoring currency movements with a high degree of sensitivity, even as the yen heads for its weakest monthly performance against the dollar since July. The move followed a volatile week for Japans currency, which briefly strengthened after US Treasury Secretary Scott Bessent criticized...
Copyright 2023-2026 - www.financetom.com All Rights Reserved