Gavin Newsom: “We've set aside $100 million in the budget specifically for…”

“To buy down because of the guarantee, interest rates and again, interest rates as low as 2%, a little bit higher. There's a lot of financial institutions that will participate in this, but We've set aside $100 million in the budget specifically for this [housing assistance]. 56 million new general fund, some other money and settlement funds, and rolled this together in a new proposal that we believe along the lines of the Cal Assist proposal, can have a real impact, helping real people in the construction phase address the anxieties.” (50:42–50:48)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.