Establishes the Affordable Housing Risk Reduction Program to support California affordable housing providers with technical assistance and resources.

The Affordable Housing Risk Reduction Program is created to provide technical assistance and supportive resources to affordable housing providers in California. The Department of Housing and Community Development will administer the program, which aims to help these providers mitigate risk in their portfolios and secure more affordable insurance options. The program will include analyzing risk, implementing risk mitigation measures, identifying alternative risk financing entities, and providing training and best practice guides.

Establishes the Affordable Housing Risk Reduction Program to support California affordable housing providers with technical assistance and resources.

The Affordable Housing Risk Reduction Program is created to provide technical assistance and supportive resources to affordable housing providers in California. The Department of Housing and Community Development will administer the program, which aims to help these providers mitigate risk in their portfolios and secure more affordable insurance options. The program will include analyzing risk, implementing risk mitigation measures, identifying alternative risk financing entities, and providing training and best practice guides.