new regional housing authority proposed
Strengthening regional approaches to solving the housing crisis has long been a major advocacy focus for the Bay Area Council, so we were encouraged by legislation introduced this week to create a new regional housing authority. The bill (AB 1487) by Assemblymember David Chiu (San Francisco) would create the Housing Alliance for the Bay Area and give it authority to put tax measures on the ballot to fund new affordable housing projects and a variety of other housing preservation and protection programs.
The bill was inspired by the work of CASA, a group of business, civic and housing leaders co-chaired by former Council Chair and TMG Partners CEO Michael Covarrubias that developed an ambitious 10-point plan to address the Bay Area’s housing shortage and affordability crisis. The CASA plan includes generating $1.5 billion annually in Bay Area funding that Chiu’s regional housing authority would be responsible for delivering. The Council will be monitoring the bill closely and working to ensure that any new regional housing authority has strong representation from the business community. To engage in the Council’s housing policy work, please contact Senior Vice President Matt Regan.