Support the 2024 Bay Area Housing Regional Bond Campaign

Introduction

The Bay Area Housing Finance Authority (BAHFA) is poised to place a $10-20B 9-county regional housing bond measure on the November 2024 ballot!

St. Mary’s Center has endorsed this initiative, as we believe it is crucial for addressing the pressing housing needs in our region, to prioritize affordable housing for extremely and very low-income residents. Join us in supporting this vital cause!

About the Bond

The 2024 Bay Area Housing Regional Bond aims to raise funds to:

  • Increase Affordable Housing: Develop and maintain affordable housing units across the Bay Area to address the housing crisis.
    Community Infrastructure: Invest in community infrastructure projects to enhance the overall quality of life in the region.
    Local Funding: Local government bonds are one of the most powerful affordable housing financing sources available – we need a regional bond to address this regional issue.

Why Support the Bond?

Impactful Solution to the Housing Crisis in the Bay Area.

$10B Regional Housing Measure:

  • Produce and preserve upwards of 45,000 affordable homes. Over the lifetime of these developments, half a million low-income households will be housed.
    Create 29,000 jobs annually and generate $670M in state and local taxes and $2.3B in annual income in California.
    Leverage an additional $38.1B for affordable housing through other funding sources.
    $20B Regional Housing Measure doubles this impact!

Affordable Homes in Pre-development

New regional resources can unlock the current pipeline of affordable homes!

How You Can Help

Past Events

  • Watch the St. Mary’s Center Housing Bond Community Partner Updates.
  • Watch the 2024 Equity Forum: Housing on the Ballot.
  • Watch St. Mary’s Center staff and Seniors offer public comment on the bond.

Frequently Asked Questions

Who’s in on this effort?

Bay Area Housing for All (BAHA) is a fast-growing, large coalition in support of this measure. With 50 members, the BAHA coalition includes non-profit, philanthropic, business, and public sector partners working at the intersection of housing, racial equity, climate, transportation, and quality of life.

How will the funds from the regional housing bond be allocated?

Under state law, 80% of the funds raised through the bond will return to their county of origin (based on the jurisdiction’s share of assessed property value), and in some cases specific cities, and 20% will be administered by the Bay Area Housing Finance Authority (BAHFA) to fund critical affordable housing and services across all nine Bay Area counties

What are the accountability measures to ensure the funds are spent on our region’s most pressing needs?

Under state law, jurisdictions must submit an expenditure plan that meets the minimum allocation requirements and prioritizes housing developments that help achieve regional housing need allocation (RHNA) targets for homes affordable to extremely low income, very low income and lower income households to receive funding. If a city or county submits an expenditure plan that does not achieve those allocations and priorities, the Association of Bay Area Governments (ABAG) Executive Board and the Bay Area Housing Finance Authority (BAHFA) Board can determine that it is incomplete and withhold funds until the jurisdiction submits a complete plan.

All bond funds will be subject to independent audits, and audits and required financial reporting must be made available to the public.

Contact Us

Have questions or need more information? Contact our advocacy team:

Get Involved
Hope & Justice Organizer, Ruby Rodriguez
Email: rrodriguez@stmaryscenter.org

Policy Questions
Advocacy Manager, Courtney Welch
Email: cwelch@stmaryscenter.org

Your support is crucial in making the 2024 Bay Area Housing Regional Bond a success. Together, we can build a stronger, more inclusive, and sustainable community for all!

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