California is creating its first standalone housing agency to help streamline funding for affordable housing development — except it has no new money due to proposed state budget cuts. Starting July 1, the state will create the California Housing and Homelessness Agency to house various departments overseeing state and federal housing funding programs under one umbrella. By doing so, some developers anticipate this will make it easier and cheaper to build homes. Others are worried the consolidation isn’t well thought out and will disrupt existing programs. Creating further uncertainty is the lack of funds in the governor’s proposed budget —…
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