Rondo Community Land Trust grant appropriation

SF 2950 appropriates $11.5 million from the state general fund for a one-time grant to the Rondo Community Land Trust. The funds must be used to create a home buyer initiative pilot program targeting households with adjusted incomes at or below 115% of the area median income (as defined by HUD). This program aims to expand affordable homeownership opportunities specifically for low-to-moderate income residents in the Rondo community. The appropriation is limited to fiscal year 2026 and cannot be used for other purposes.