By Kim Barker and Scott MaloneUpdated October 03, 2018 08:23:42President Donald Trump signed a $200 million HUD settlement Wednesday that would make it easier for Californians to buy homes in their communities and improve access to affordable housing.
The Trump administration announced the agreement with California’s U.S. Housing and Urban Development Agency, or HUD, in response to California’s 2016 passage of a state law requiring local governments to build more affordable housing and improve existing housing.
The state has been hit hard by a property tax boom and California has been a hotbed of political and economic unrest over high property taxes.
The federal government and HUD are making it easier to build and maintain affordable housing, particularly for lower-income residents.
HUD also is pushing California to establish housing quality standards that would help prevent foreclosures, increase housing supply and keep people in their homes.
Under the settlement, the federal government will provide $10 million to help homeowners purchase homes in communities where they are eligible.
HUD is also giving states $50 million to support local housing efforts.
“This is about working together with the state of California and working with the communities we serve to get the housing that’s needed and affordable,” HUD Secretary Ben Carson said in a statement.
“This is a victory for all Californians, and for the many families in need who have been denied access to a home due to unaffordable housing.”
The Trump-era HUD settlement comes as the Trump administration has rolled back rules and regulations that are hurting housing affordability and access.
HUD Secretary Carson has vowed to eliminate the Obama-era Obama-created rules that prohibit state governments from taking on more expensive housing, which he says would help lower prices and spur the creation of more affordable homes.