San Leandro City Council
October 2, 2023

Bay Area Housing Finance Authority (BAHFA)
San Leandro City Council – October 2, 2023
A Bay Area Problem to Solve Together
At least 36,810 people in the region experienced homelessness in 2022 and as of 2019, 575,000 were at risk of homelessness
The Bay Area has consistently fallen short of its housing targets: Between 2015-2020, the region built only 25% of the homes needed.

Regionwide, we need to build 180,334 more affordable homes to meet the number of homes required under the 2023-2031 Regional Housing Needs Allocation (RHNA)
Significant funding is needed: As of 2023, there are 32,944 affordable homes in predevelopment that require financing.
2 Bay Area Voters’ Topmost Concerns
2023 Polling -
MTC
• Voters most commonly cite homelessness
and housing affordability among the Bay
Area’s problems
• Over two-thirds of voters think more money
is needed to address housing
2022 Polling –
Bay Area
Council
• Homelessness and high housing costs
cited by voters as Bay Area’s most important
problems
3 4
106 total affordable housing
projects in predevelopment
7,916 affordable homes in
predevelopment
37,197 affordable homes required
for 2023-2031 RHNA
9,747 people experiencing
homelessness in 2023
San Leandro Point-in-Time Counts:
2019 – 418
2022 – 409
Alameda County Housing
Affordable
Housing
Pipeline and
Housing Need
BAHFA Can Provide New Housing Solutions
5 Our Mandate: Created by state legislation in 2019, BAHFA plans to raise $10- $20 billion through a 2024 ballot measure to meet the region’s housing needs. • 80% of funds raised return to county of origin
• The ABAG Executive Board and BAHFA Board (comprised of MTC Commissioners) work together as BAHFA’s governance entities • BAHFA’s 20% regional funding will help advance better systems:
• Streamlined, innovative financing
• Opportunities for regional coordination
• Technical assistance
6 The Power of BAHFA: Regional Action
• A mission-driven, regional lender can reinvest loan
funds back into the community
• Regional programs can assist community-based organizations vital to preservation efforts
• Regional programs can lower the cost and timelines of essential housing production
• Technical assistance, policy development, and higher-risk development innovations all happen at the regional level Current Pilot Phase
1 Doorway Housing Portal: Online affordable housing platform that makes searching for affordable housing easy region-wide
2 Affordable Housing Pipeline: Database to track the production and preservation of affordable homes
3 Preservation: Financing to help community-based organizations buy buildings, convert them to affordable housing and protect residents from displacement 4 Anti-Displacement: Coordination and best practices to support tenant protections 5 Homelessness Prevention: Coordinated support across jurisdictions to share best practices to keep people housed
7 Funding at Scale:

A Regional Funding Measure
Photo Credit: 1) Eden Housing; 2) MidPen Housing, Craig Sherod; 3) Amie Holbrook 8 Related 2024 Measure
9 1 Amend the statewide constitution to lower the voter approval threshold for affordable housing general obligation bonds (among other items) from 66.7% to 55%.
2 Apply to the Bay Area Regional Housing Bond on the
same November 2024 ballot.

Assembly Constitutional Amendment 1 (Aguiar-Curry) will place a measure on the November 2024 ballot that would:

County and City: ≥80% Regional Program <20%**
Production
≥ 52%
Production
Preservation ≥ 52%
≥ 15%
Preservation
≥15%
*Protection
≥ 5%
*Protection
≥5%
≤10% Local
Government
Incentive Grant
Program
Flexible
28%
Flexible
18%
10 How Funds May be Spent
*Currently, state law does not allow bond proceeds to be spent on service-related costs. A constitutional amendment may be on the November 2024 to remove this restriction.
**BAHFA’s Funding: Targeted investments
in jurisdictions as additive financing to
further local goals
11 County & Direct City Allocations $10B GO Bond $20B GO Bond Alameda County (excluding Oakland) $984 M $2.0 B
Oakland $383 M $765 M
Contra Costa County $925 M $1.9 B
Marin County $352 M $704 M
Napa County (excluding City of Napa) $100 M $200 M
City of Napa $79 M $158 M
San Francisco $1.2 B $2.4 B
San Mateo County $1.0 B $2.1 B
Santa Clara County (excluding San Jose) $1.2 B $2.4 B
San Jose $1.0 B $2.1 B
Solano County $248 M $497 M
Sonoma County (excluding Santa Rosa) $282 M $564 M
Santa Rosa $121 M $242 M
BAHFA $2.0 B $4.0 B
Significant
funding to
every
community
Receiving
Entity
Production
Funds
Preservation
Funds
Protection
Funds
City/County
Discretionary
Funds
52% 15% 5% 28%
Alameda
County
(excluding
Oakland) $984M $512M $148M $49M $275M
Potential Funding for Alameda County
12 Dollars in millions based on a $10 billion regional bond AB 1487 Expenditure Rules: Counties/Cities
13 Activity County/City Expenditures
Production
 Rental or ownership
 Must prioritize projects that help meet RHNA goals
 Affordability up to 120% AMI
Preservation
 Rental or ownership
 Affordability up to 120% AMI
Protections
 Legal services, rental assistance, relocation, tenant education, displacement data collection
Flexible
 Affordable housing and housing-related uses, as approved in the county/city Expenditure Plan
14 Spring – Fall
2023
Fall – Winter
2023
Winter –
Summer 2024
Fall
2024
 Business Plan and
Equity Framework
revisions
 Present to jurisdictions
about BAHFA and the
potential benefits of a
regional measure in
2024
 Business Plan
adoption (October)
 Public information
sessions
 Early drafts of
Expenditure Plan
 Conduct final poll
 Finalize Expenditure
Plan and Summary
 BAHFA Advisory
Board recommends
measure: March
 Governing Boards
Approve Resolution:

April-May
 Counties place
measure on ballot:

July (deadline –
8/9/24)
 Public
information
sharing
2024 BAHFA Regional Housing Measure Timeline
Questions & Comments?
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