Marin Independent Journal: Bay Area affordable housing bond measure is right for county plans

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Marin residents want more affordable housing. The county’s 2023 community survey confirmed that housing is our top issue. While longtime community resistance to housing in Marin is well-known, it is slowly changing. The funding challenges are less well known, but just as formidable.

The Bay Area Housing Finance Authority can help.

If you’re not familiar, you’re not alone. BAHFA is a young agency (established in 2019). It supports affordable housing in the Bay Area. The authority is planning a $10 billion to $20 billion regional bond measure for the November 2024 ballot. Should it pass, 80% of the funds generated in Marin – between $350 million and $700 million – would be returned to Marin for distribution according to a Marin County-developed expenditure plan. This funding is significant. (By contrast, Marin commits about $5 million annually for affordable housing.) The remaining 20% would go to the BAHFA agency for regionwide initiatives, including projects in Marin.

Read more via the Marin Independent Journal…