First-Of-Its-Kind Regional Housing Authority Takes Flight
A new regional housing financing authority—the first of its kind in California—that the Bay Area Council helped create recently held its first meeting to begin the important work of addressing the Bay Area’s housing shortage and affordability crisis. The Bay Area Housing Finance Authority (BAHFA), a joint initiative of the Metropolitan Transportation Commission (MTC) and Association of Bay Area Governments (ABAG) and chaired by Alameda County Supervisor Scott Haggerty, will work collaboratively with cities, counties and other partners to preserve existing housing units, prevent the displacement of current residents and promote the construction of new units. BAHFA was established under AB 1487 (Chiu), which the Council helped shape. Funding for BAHFA’s work will come from a regional housing financing funding measure that leaders expect to take to voters sometime after the COVID-19 pandemic is brought under control.
“BAHFA is more than just a vehicle for voters to support affordable housing,” Assemblymember Chiu said. “It’s also a vehicle for collectively addressing our housing crisis, embracing bold ideas, testing innovative approaches, strengthening the partnership between ABAG and MTC through shared decision-making, and fostering new funding partnerships with foundations and the private sector.”
The Council extends its deepest thanks to Assemblymember Chiu, Supervisor Haggerty, ABAG, MTC and many other incredible partners for their leadership in establishing BAHFA. To engage in the Council’s housing policy work, please contact Senior Vice President Matt Regan.