Fresno Housing Killer Buried in Newsom's Latest Budget
California's AB 130 law is set to significantly increase the price of new homes built away from the urban core, impacting Fresno's housing market.
The law aims to reduce greenhouse gas emissions by limiting urban sprawl, using complex formulas to predict driving distances and tax new developments accordingly.
- Builders can lower taxes by adding bus routes or bike lanes to new developments.
- However, some California agencies argue that these measures are not effectively reducing greenhouse gas emissions.
According to environmental attorney Jennifer L Hernandez, the California Air Resources Board wants proof that people are choosing alternative transportation methods over driving.
The city council must now navigate these new regulations and their impact on Fresno's housing market.
Author's summary: Fresno faces housing challenges due to AB 130 law.