A regional bond to build housing will no longer appear on ballots in November after the Bay Area Housing Finance Authority unanimously voted to pull the measure Wednesday.
The $20 billion bond promised to provide funding for up to 90,000 units throughout nine Bay Area counties if voters approved it in the November election. The measure would have been funded by additional annual property taxes, amounting to an average of just less than $19 per $100,000 in appraised value. In June, the
's polling showed that voters' interest in the proposal had stagnated as they remained concerned with inflation and high taxes.Its June polling showed that support for the bond was around 54% of voters, well below the two-thirds majority needed to pass the measure. 's transparency and ability to oversee the money potentially generated by the bond. Citing concerns about voter interest, the chairs of Bay Area Housing for All, the organization leading the campaign for the bond measure, recommended that the board pull it from the ballot. One of the chairs, Heather Hood, said that group was looking toward future elections to get the bond passed. 'We've had to think about the long run,' said Hood, through apparent tears.
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