One of the great success stories of 2020 has been the creation and activation of the Bay Area Housing Finance Authority, or BAHFA. Through hard work, engagement, and collaboration with partners throughout the region, we passed AB 1487 (2019) which created an agency to facilitate a regional housing infrastructure that was until recently unheard of.
This new, regional body will have the power to fundraise from the state, local, and federal sources and from the private sector to produce more affordable housing across the Bay Area. We want to take a moment to thank MTC and ABAG for their hard work and leadership in 2020 to get us to this point.
With BAHFA activated, the Bay Area will now look to 2021 to set up the governance, staffing, and functional infrastructure to receive funds to address the housing crisis, funds that are needed like never before.
From supporting the response to COVID-19, to creating a Regional Housing Portal, there are many critical functions and programs that BAHFA will now be able to serve, once funding starts coming in. Examples include:
In this moment of crisis for so many of our neighbors, this is a victory worth celebrating.
Thank you for your support. Stay tuned for more ways to advocate for housing for all in the Bay Area. Please email NPH Director of Advocacy and Community Engagement JR Starrett at JR@nonprofithousing.org for more info on how to get involved.