A new affordable-housing authority could be coming to the Bay Area.
SACRAMENTO — The Bay Area, widely considered the epicenter of the state’s housing crisis, could soon see the formation of a new, regional authority tasked with shoring up the supply of affordable housing — largely, by raising more taxes to pay for it.
A state proposal to create such a body, Assembly Bill 1487 by San Francisco Democrat David Chiu, passed out of the California Assembly Thursday, 42-18, and will now move to the state Senate.
The Housing Alliance for the Bay Area would be run by representatives of existing regional transportation and planning organizations and would have the authority to put parcel taxes, business fees and other revenue-generating measures before voters across the nine-county region.
“A regional approach is crucial to tackling our housing crisis in the Bay Area,” Chiu said in a statement after the vote. “Our challenges are inextricably linked across our region, and we need to tackle them together. By generating more funding at a regional level, we are taking a significant step towards a more affordable and equitable Bay Area.”
Carl Guardino, president and CEO of the Silicon Valley Leadership Group, which represents business interests and has championed bridge-toll increases and other taxes for transportation improvements, said his group had not yet taken a position on the legislation. He said he understood the rationale behind the proposal, but noted that the details matter — “which taxes and which fees impacting which individuals or entities.”
“Burdens of new taxes and fees can add to the incredibly high cost of living,” Guardino said. “That delicate dance of addressing a problem without creating another problem is what we’ll have to soberly consider.”
