Could a $20 billion bond measure help solve the Bay Area’s affordable housing crisis?

Mayors Matt Mahan of San Jose, London Breed of San Francisco and Jesse Arreguin of Berkeley appear together in support of placing a Regional Housing Measure on the Nov. 2024 ballot, Thursday, June 20, 2024, in San Francisco, Calif. This November, Bay Area voters could decide on an unprecedented bond measure to raise up to $20 billion for as many as 90,000 desperately needed affordable homes across the nine-county region.

San Francisco Mayor London Breed and Berkeley Mayor Jesse Arreguín were also at the event, held at an affordable housing complex near the Chase Center arena in San Francisco’s Mission Bay neighborhood. The bond would be funded by a new tax on businesses and homes. For a $20 billion bond, the tax would come to $19 per $100,000, or about $190 a year for a home with an assessed value of $1 million.by 2031, a roughly 15% increase in the region’s total housing stock. More than half of the new homes must be affordable to low- and middle-income residents.

Some mayors also pointed to the shrinking role the federal government has played in subsidizing affordable housing in recent decades as a reason the measure is needed. If approved, a $20 billion bond measure would allocate $4 billion to creating a regional fund to finance affordable projects. The rest would be split among the Bay Area’s nine counties and five of its largest cities to determine how to boost affordable housing.

Source: Real Estate Daily Report (realestatedailyreport.net)

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

20 Amazon Sundresses for $20 or Less That You'll Wear All SeasonLooking for some steals? These sundresses from Amazon are seriously affordable and ready to shop just in time for summer — details
Source: usweekly - 🏆 390. / 55 Read more »

You can save up to $20 on Anker’s newest Qi2 power banksAnker’s MagGo Power Bank (10K) and Power Bank (6K) are both on sale right now. Each Qi2 charger can supply 15W wireless charging speeds to the iPhone 12, 13, 14, and 15.
Source: verge - 🏆 94. / 67 Read more »

Memorial Day deals: $20 Amazon credit, $329 iPad 10, $20 TOZO earbuds, Hydro Flask, Motorola foldables, moreMemorial Day deals are available now, including an offer that gets you a $20 Amazon credit, plus discounts on iPad 10, Hydro Flask, more.
Source: BGR - 🏆 234. / 63 Read more »

Chainlink price hits 6-week high, is $20 LINK the next stop?Traders say on-chain data and an intriguing chart setup support the view that LINK is “vastly underpriced.”
Source: Cointelegraph - 🏆 562. / 51 Read more »

All of These White Dresses for Summer Are on Sale for Memorial Day Starting at $20Amazon's fashion department is full of white dress deals for spring and summer, including midi, maxi, and mini dresses. Shop casual and formal dresses while prices are as little as $20 and discounts are up to 66 percent off at Amazon
Source: peoplestyle - 🏆 367. / 59 Read more »

Head Coach Mike McDaniel Says the Miami Dolphins Aren't HuntingThe Dolphins will have nearly $20 million in cap space freed up after June 1st.
Source: SInow - 🏆 273. / 63 Read more »