Two public virtual workshops this month will outline the Bay Area’s proposed regional 2024 bond measure to invest in the production and preservation of affordable housing to address the Bay Area’s housing needs.
The Bay Area needs to create more affordable housing – a lot of it. The region must plan for more than 180,000 new affordable homes by 2035. Tackling this problem in the coming years is key to making the region more affordable for the nearly eight million people who call the Bay Area home.
The Bay Area Housing Finance Authority (BAHFA) was created in 2019 to help solve the affordable housing shortage and has the potential to raise hundreds of millions of dollars annually through ballot measures and other revenue mechanisms for the nine-county Bay Area. BAHFA is now considering a bond measure for the November 2024 ballot to invest in building and preserving affordable homes over the next decade and beyond.
The public is invited to participate in virtual workshops to learn about the proposed housing measure. Attendees will have the opportunity to provide BAHFA with feedback and ask questions.
The virtual workshops will be held Wednesday, Aug. 16 from 5:30 p.m. to 7 p.m. and Thursday, Aug. 24 from 12 p.m. to 1:30 p.m. More information on the workshops is here: www.mtc.ca.gov/housingbond. For those unable to attend, a meeting recording will be posted to this page. Note that the presentation content of both workshops will be the same. For questions, email BAHFA@bayareametro.gov.
BAHFA’s governing boards are also holding a series of meetings open to the public on the proposed bond through spring 2024. These meetings will include discussions on BAHFA’s spending plan for its share of proposed bond funding and ultimately determine whether to place the housing measure on the 2024 ballot. The public is encouraged to participate and help inform all key decision points.
The effort works in tandem with Plan Bay Area 2050 — the Bay Area’s regional long-range plan adopted by MTC and the Association of Bay Area Governments (ABAG) — which seeks to stimulate housing production for people at all income levels and create inclusive communities. Key Plan Bay Area 2050 implementation actions include providing financial resources and technical assistance through the Regional Housing Technical Assistance and Priority Development Area planning programs.