Newsom eyes $1 billion in cuts to affordable housing programs

With a $27 billion shortfall looming over the state, Gov. Gavin Newsom is eyeing a total of $1 billion in cuts to several housing programs aimed at financing and preserving existing affordable housing.

“There are components of our housing strategy where we are making adjustments, but the core mission remains firm,” Newsom said during a press conference announcing his proposed budget Friday.

Here are the housing programs where Newsom sees potential cuts:

— Eliminating the Multifamily Housing Program...