1 Contents
Engagement Process
Oakland’s Equity Framework &
Expenditure Plan
• ‘23 -’27 Strategic Action Plan
• Oakland Expenditure Plan for
BAHFA Bond
• Feedback Received
Next Steps
2Regional Investments in Oakland’s Housing Solutions
3Community Engagement & Outreach
Oakland Information Sessions
Jurisdiction $10 Billion Bond $20 Billion Bond
Alameda County $987 M $1.97 B
Oakland $382 M $765 M
Production
at least 52% of funds
Preservation
at least 15% of funds
“Flexible”
33% of funds
Goal: to raise awareness about what the regional housing bond and ACA -1 would do for Oakland 3Community Engagement & Outreach
Oakland Information Sessions
Goal: to raise awareness about what the regional housing bond and ACA -1 would do for Oakland Assembly Constitutional Amendment No. 1
Would lower the necessary vote threshold from
a two-thirds majority to 55 percent
• Focused on local general obligation bonds
for affordable housing & infrastructure
projects
• School districts already do this!
4Community Engagement & Outreach
• In April & May, Oakland HCD co -hosted four educational sessions in partnership with Alameda County Board of Supervisors, Oakland City Councilmembers, and Alameda County HCD • Cantonese and Spanish interpreters were available for our May 20th session. • Online recordings and FAQs are accessible on our website for those unable to attend.
April 25th May 20thApril 29th
50 registrants
April 24th
67 registrants
72 registrants
75 registrants
# of Registrants for each
BAHFA Bond Community Engagement Session
Oakland Information Sessions
Digital Flyers Eventbrite Page
Oakland’s
Affordable Housing
Strategic Action
Plan
6 2023 -2027 Affordable Housing SAP
7Oakland’s Affordable Housing Strategic Action Plan
Stakeholder
Engagement
• January –
May 2023
Strategic Action
Plan Released
• June
2023
Implementation • July 2023 – Present
1) Homelessness and
2) Anti-Displacement
Strategies
• In
Development
Racial Equity Impact Analysis
8Oakland’s Affordable Housing Strategic Action Plan
Racial Equity Goal
9 Through its resources and programs, Oakland HCD aims to equitably promote housing access for and stem the displacement of Oaklanders most impacted by racial disparities.
Oakland’s Affordable Housing Strategic Action Plan
Guiding Principles
10 1. Base all decisions & processes in equity goals and priorities
2. Root our funding allocations and decision-making in data
3. Pursue all opportunities to leverage funding sources
4. Innovate to reduce development costs and time
5. Explore opportunities to expand partnerships & resources
6. Simultaneous investment and advocacy for systems change
7. Iterate & evaluate over time – stay nimble!
Oakland’s Affordable Housing Strategic Action Plan
Capital Investment Equity Framework
11 Homeless Units/
Permanent
Supportive Housing
First-Time
Homebuyer
Support
Preservation via
Acquisition/
Conversion
Preservation of
Existing City
Portfolio
Low/Moderate-
Income Owner-
Occupied Rehab
Homelessness
Prevention
Anti-Displacement
Rent Adjustment
Program
Production
Preservation
Protection
(Non-capital dollars)
Approach:
fund as many
areas as possible
starting with
priority strategies
START
Anti-displacement
Prioritizing
homeless exits
Low-Income Units
(30-80% AMI)
+Interim
solutions
Oakland’s Affordable Housing Strategic Action Plan
Oakland
BAHFA Expenditure
Plan & Projections
12 Program Type Measure U
Funding
Local
Capital
Dollars
Total
Funding
%of
Total
Number
of Units
Permanent Homeless
Units (0-30% AMI)*
$55.0 M $34.4 M $150.2 M 29% 447
Low-Income Units
(30-80% AMI)
$193.9 M $36.4 M $230.2 M 45% 1,151
Preservation via
Acquisition/Conversion
$65.0 M $0 $65.0 M 13% 217
Preservation of Existing
City Portfolio
$18.6 M $20.0 M $38.6 M 8% 575
Other Housing
Programs**
$0 $26.0 M $26.0 M 5% N/A
Totals $332.5 M $116.7 M $510.0 M 100% 2,390
Current Affordable Housing Funding
Projections by Source, FY 2023/24 -2030/31
* Total Funding includes $60.8M local operating subsidy for permanent homeless units **assumes local subsidy per new construction unit of $200k Oakland’s Expenditure Plan & Equity Framework 13
Program Type Measure U
Funding
Local
Capital
Dollars
$20B
Regional
Bond
Total
Funding
%of
Total
Number
of Units
Permanent Homeless
Units (0-30% AMI)
$55.0 M $34.4 M $233.4 M $383.6 M 31% 1,614
Low-Income Units
(30-80% AMI)
$193.9 M $36.4 M $264.7 M $495.0 M 40% 2,475
Preservation via
Acquisition/Conversion
$65.0 M $0 $109.1 M $174.1 M 14% 580
Preservation of Existing
City Portfolio
$18.6 M $20.0 M $120 M $158.6 M 13% 2,363
Other Housing
Programs**
$0 $26.0 M $0 $26.0 M 2% N/A
Totals $332.5 M $116.7 M $727.4 B $1.2 B 100% 7,032
Affordable Housing Development
Projections with a $20B Regional Bond, ‘23 – ‘31
* assumes $60.8M local operating subsidy for permanent homeless units **assumes local subsidy per new construction unit of $200k Oakland’s Expenditure Plan & Equity Framework 14
Program Type Current
Funding
w/o BAHFA
Current
Unit
Projections
Total Funding
with
$20B Bond
$20B Bond
Unit
Projections
Permanent Homeless Units (0-30%
AMI)
$150.2 M 447 $383.6 M 1,614
Low-Income Units
(30-80% AMI)
$230.2 M 1,151 $495.0 M 2,475
Preservation via
Acquisition/Conversion
$65.0 M 217 $174.1 M 580
Preservation of Existing City Portfolio $38.6 M 575 $158.6 M 2,363 Totals $510.0 M 2,390 $1.2 B 7,032
Affordable Housing Development
Projections: Current Funding vs. $20B Bond
Oakland’s Expenditure Plan & Equity Framework 15
15 Community Takeaways
Some of the key topics and questions raised included:
1. Funding Allocation
2. Equitable development across all of Oakland
3. Cost per unit & cost-effective strategies (e.g. ADUs, preservation, etc.)
4. Housing for specific demographics in Oakland
5. Potential barriers to housing production
6. Accountability and oversight over funding
7. Anti-displacement and resident protection strategies
8. Timeline of Availability of Funds
What We Heard From The Community
16 Examples of Community Questions
• Question: If passed, how much will the BAHFA Bond cost Oakland residents? ⚬ Answer: The assessments will be levied between 2026 and 2075. For a hypothetical senior who bought their home several decades ago and whose assessed value is currently $500,000, their assessments will be equivalent to $4 -$10 per month in the short -term. If they remain the homeowner through 2038, their assessments could go up to $8 -$30 per month and would decrease from there until 2075.
• Question: How would this bond help stabilize Oakland’s communities? How does this support resident protections? ⚬ Answer: This is a general obligation bond, so there is a limit for what the funds can be used for. Protection services (homelessness prevention, eviction defense, etc.) are not eligible uses. The City’s place -based preservation strategies, however, aim to stabilize neighborhoods that experience gentrification and those that are at -risk of displacement. The bond will support these activities.
• Other common questions included:
⚬ How will the funds address homelessness in Oakland?
⚬ How will we ensure jobs and apprenticeships will be given to Oaklanders? ⚬ How will the City support small, emerging, or faith -based developers with these funds? ⚬ How will the County ’s and City’s expenditure plans support one another? FAQs Available on our BAHFA Bond Website
What We Heard From The Community
Next Steps
18 April -
June
2024
Nov 2024 2025 and
beyond
• BAHFA Board & ABAG Executive
Board vote to approve regional
expenditure plan
• BAHFA Board & ABAG Executive
Board vote to place Bond on the
ballot in all 9 counties
Timeline of Events
Next Steps
• Election Day 2024 • If passed, local public
meetings to approve
local expenditure plans,
with opportunities for
community engagement,
input, and suggestions.
19 Opportunities for Regional Engagement
–Monthly Public Board Meetings of BAHFA - noticed at
https://mtc.ca.gov/meetings-events
–Sign up for BAHFA's mailing list: https://mtc.ca.gov/node/4000256 –Email BAHFA with questions! [email protected]
Opportunities for Local Engagement
–City of Oakland: Contact [email protected] for feedback or questions • Visit our BAHFA Bond website: https://www.oaklandca.gov/resources/bahfa-bond –Expenditure Plans must be approved at publicly noticed meetings with opportunities for public comment (after February 2025)
Staying Informed and Engaged
Next Steps 20
Thank You!
21Regional Investments in Oakland’s Housing Solutions