The bond would have raised funds through a surcharge on property tax bills and distributed those significant dollars to Bay Area counties based on their contributions.
Dustin DorseyA $20 billion funding to address the Bay Area's lack of affordable housing options is now off the table.A $20 billion funding to address the Bay Area's lack of affordable housing options is now off the table.
The Affordable Housing Bond promised to be a solution, but the Bay Area Housing Financing Authority voted Wednesday to remove the bond from the November 2024 ballot. "This is one of the most difficult votes that I will be taking," Contra Costa County Supervisor Federal D. Glover said. Not often does a unanimous decision have such hesitation, but that was the case when the Bay Area Housing Finance Authority voted to pull the $20 billion affordable housing bond from the November ballot."We know that we need the best shot in communicating with the voters in a way that helps people understand how important this opportunity is to getting housing built in our community, and that the timing was off," Chavez said.
When the need for housing is top of mind as the state continues to clean up encampments and move homeless off the streets, why this vote?The BAHFA commissioners say there is not enough support for the measure at this time. There was only 55% approval in recent polls.
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