Breaking News
More () »

Arizona's new budget allocates $150 million for providing affordable housing

Gov. Katie Hobbs held a press conference Monday morning to discuss what the new budget deal allocates toward affordable housing.

PHOENIX — After signing off on Arizona's $17.8 billion state budget, Gov. Katie Hobbs met with members of the press to highlight the bipartisan deal's "historic investments" in fighting homelessness and investing in affordable housing.

The new budget makes a $150 million deposit into the Arizona Housing Trust Fund. It's "more than double the largest deposit ever made," Gov. Hobbs said.

The budget also allocates $60 million toward homeless shelters and services.

"[The deposits] will support existing programs and build upon their capacity to outreach and support seniors that are either unsheltered or experiencing homelessness for the first time," said Joan Serviss, director of the Department of Housing.

The money will go towards developing shelters, preventing evictions, providing rent assistance, and building affordable housing. Groups such as Central Arizona Shelter Services (CASS) and the Soluna Apartments affordable housing community praised the increased focus on this area.

RELATED: Gov. Katie Hobbs signs Arizona's 2023-24 budget into law

Additionally, the new budget puts $650 million towards infrastructure and broadband improvement, focusing on rural communities without access to such services. Officials said that allotment will also go towards providing healthcare insurance to roughly 12,000 children by 2025.

"Today is a great day for Arizona," Gov. Hobbs said, adding that she hopes it will assuage some of the anxieties faced by Arizonans worried about rising costs of living.

Serviss stressed that while the budget will make a significant impact, it will take time for the changes to take effect. However, officials are optimistic the new budget is a big step in the right direction.

>> Download the 12News app for the latest local breaking news straight to your phone.


Arizona Politics

Get the latest Arizona political news on our 12News YouTube playlist here.

Before You Leave, Check This Out