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The Bay Area’s housing finance agency will meet Tuesday night to discuss a bond that would fund 72,000 affordable housing units around the region.
The Bay Area Housing Finance Authority, which aims to create enough safe and affordable housing for all Bay Area residents, will put a $20 billion general obligation bond on the November ballot.
Tuesday’s meeting will allow the community to learn more about the potential bond that, if passed, is expected to create 72,000 new affordable homes in the Bay Area’s nine counties, while also funding efforts to preserve existing affordable housing and protections for tenants.
Funded by property taxes, the $20 billion bond would require an estimated tax of $19 per $100,000 in assessed value, or about $190 per year for a $1 million home.
BAHFA’s webinar presentation materials from last August explained that 80% of the funding would go back to the counties from which they were generated and 20% would be retained by BAHFA for a regional investment program.
The virtual meeting is set for July 16, at 6 p.m. at https://cccounty-us.zoom.us/j/86885426838.
This story was originally reported by Bay City News Service.