Did you know that California has an infrastructure bank (IBank)? Well we do, and it could be among the most valuable tools to ensure an equitable recovery from pandemic-related economic devastation.
Assembly Bill 310 would make IBank a public bank and enact key changes that would maximize its potential for the people of California. Not only would it provide life-saving loans for small businesses, but it would also mean a big boost for affordable housing by:
- Buying up municipal debt, reducing cities’ borrowing costs and freeing up funds in the city budget for other priorities (like affordable housing).
- Issuing bonds that would finance affordable housing production directly.
We’re joining our partner organizations in making calls and writing letters to Sacramento saying YES to a more equitable recovery for California. You should join us.