A coalition of Bay Area officials and affordable housing developers is working to advance a bond to next November’s ballot that could accelerate affordable housing construction across the nine-county region through an unprecedented influx of taxpayer cash.
The funding measure would be a boon for developers who say it would allow them to tap into even more public funding to complete projects needed to house more of the region’s lower and middle-income residents.
The still-preliminary measure, known as Bay Area Housing for All, could unlock $10 billion to $20 billion — from annual surcharges on property tax bills — to aid in the construction of up to 119,000 affordable homes regionwide over 10-plus years.
Read the full article here.