Unlocking funding for local housing solutions
Like many challenges facing our county, the housing crisis is a regional issue. The Bay Area is severely behind on producing the affordable housing needed. As a result, we are facing a housing crisis where nearly half (45%) of Bay Area renters are rent burdened and 38,000 people are experiencing homelessness.
Producing housing is a complex and expensive endeavor. Increasing our supply of general obligation bonds at the local level is one of the most powerful affordable housing financing sources available. Through the Bay Area Housing Finance Authority (BAHFA), we have an opportunity to pass a nine-county general obligation bond measure on the November 2024 ballot and unlock $10-$20 Billion for affordable housing and homelessness solutions.
If successful, the regional bond will produce funds for up to 45,000 affordable homes serving over 500,000 Bay Area residents over the coming decades. This measure will also raise billions for preservation of existing affordable housing and ensure protection for at-risk tenants. Funding will be allocated across the nine Bay Area counties and Marin stands to receive $350 to $700 million dollars.
Add your voice to our important work
Community Action Marin is a member of the Bay Area Housing for All (BAHA) Coalition – a regional group of advocates working to mobilize our communities in support of the housing bond ballot measure. Sign up to receive future communications from us and be heard.