Infrastructure financing: industrialized housing.

Existing law establishes the Department of Housing and Community Development (department) and sets forth its powers and duties including functioning as the principal state department responsible for coordinating federal-state relationships in housing and community development, except for housing finance. Those duties include, among other things, administration of the Emergency Housing and Assistance Program. Existing law, the Bergeson-Peace Infrastructure and Economic Development Bank Act, establishes the California Infrastructure and Economic Development Bank (bank) and sets forth the powers and duties of the bank including authority to make loans, issue bonds, and provide financial assistance relating to economic development or public development facilities. This bill would require the department and the bank to develop a proposed program, as specified, to invest in the building of offsite industrialized housing to support the policy goal of increasing the state's capacity to quickly respond to additional housing needs precipitated by homelessness, wildfires, COVID-19, or other emergency situations. The bill would require the department and the bank to report its recommendations to the Legislature by January 1, 2023, including whether and how industrialized housing would alleviate the state's housing, homelessness, and disaster response needs. The bill would preclude implementation of the recommended programs unless approved by a subsequent act of the Legislature.