SACRAMENTO – AB 1259 was approved by the Senate Committee on Government and Finance today, June 21st.
AB 1259 authorizes the City of Merced to establish an Enhanced Infrastructure Financing District (EIFD) to help reduce blight, improve public infrastructure and increase affordable housing development. The EIFD will fund projects to further the city’s affordable housing goals, in alignment with the State’s priorities like transit oriented development and rail projects. The EIFD will also fund necessary infrastructure improvements to support a growing UC Merced campus.
“Residents of the City of Merced will greatly benefit from much-needed investments in public infrastructure and development of affordable housing,” said Assemblywoman Soria.
AB 1259 will be considered next by the full Senate.
Assemblywoman Esmeralda Soria represents the 27th Assembly District which includes communities in Fresno, Madera, and Merced counties.