Marin Independent Journal: MTC delays $10B Bay Area housing bond measure

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“A proposed $10 billion bond measure aimed at addressing the Bay Area’s affordable housing shortfall won’t make an appearance on November ballot.

“The Metropolitan Transportation Commission voted unanimously this week to defer the bond measure in light of the economic impacts caused by the coronavirus pandemic and recent poll results showing greater voter resistance to tax hikes. Commissioners Libby Schaaf and Warren Slocum were absent from the Wednesday vote.

““We were very disappointed, but not surprised to see these results from this poll,” J.R. Starrett, Non-Profit Housing Association of Northern California advocacy director, told the commission.

“Potential options outlined in a staff memo include state and federal funding; private sector funding from tech companies and philanthropies; private donations; potential partnerships with community development financial institutions and state housing grants.

“MTC commissioner and Marin County Supervisor Damon Connolly said he would not want to see BAHFA compete with local jurisdictions that are pursuing housing funds, but rather partner with them.”

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