With the stripping of a November ballot measure that proposed putting billions of dollars into building affordable homes in the Bay Area, housing advocates are pivoting their efforts.
Regional Measure 4 would’ve infused $20 billion in affordable housing funds across nine Bay Area counties if it had remained on the ballot and passed. Santa Clara County would’ve received $2.4 billion and San Jose $2.1 billion for affordable housing. But after the measure faced legal challenges, commissioners on the Bay Area Finance Housing Authority voted to pull the bond from the ballot on Aug. 14. They said it would be better to wait another election cycle when there is more certainty for the measure to pass.
For now, affordable housing proponents are turning to Proposition 5 which would lower the voting threshold from 66.7% to 55% for affordable housing bond measures. If passed, a regional Bay Area bond would have a better chance in the future.
A coalition of advocates is making an effort to get voters on board with Prop. 5.