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SB-196 is one of many new housing bills that Governor Newsom has signed into law to encourage affordable and low-income housing development. The bill provides a property tax exemption for community land trusts building affordable housing—a huge benefit—but that could be just the beginning. In some cases, these projects could also line-up with opportunity zone benefits, particularly because there is such a widespread need for affordable units.

“In some cases, there may be some overlap between affordable housing development and Opportunity Zone deals; however, there is a need for affordable housing in virtually every market, whether or not it is deemed an Opportunity Zone,” Richard Lara, president and CEO of RAAM Construction, tells GlobeSt.com.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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