Yesterday, the Santa Clara County Board of Supervisors voted unanimously to place an affordable housing bond on the November ballot, an important effort to drive new revenue for affordable housing across Santa Clara County.
Silicon Valley Business Journal covered this historic event:
“Advocates say it’s necessary to provide funding for projects after the demise of redevelopment agencies, a key source of affordable-housing financing that Gov. Jerry Brown killed in 2010. The demise of redevelopment came just as Silicon Valley’s economy swung into high gear, generating thousands of jobs and pushing up housing costs past records.
‘We’re really pleased County Supervisors took this important vote to allow voters to take action on housing solutions,” said Leslye Corsiglia, executive director of SV@Home, an affordable housing advocacy group, in a statement. “We all know someone impacted by the housing crisis and this bond will allow us to get to work immediately on driving housing solutions.'”
(Read the full article via the Silicon Valley Business Journal.)
The measure authorized for the November 2016 ballot will ask voters to make an investment in addressing our housing crisis, creating opportunities to develop safe, affordable homes for all of our community members, including our homeless, seniors, veterans, people with disabilities, and low-income families. The bond will also support housing programs that address the growing needs of working families, with resources available for first-time homeowners and workforce housing.
In addition to direct impacts, studies show that increasing our affordable housing options drives a multitude of indirect benefits, from improving our business environment to reducing traffic congestion and improving air quality. The bond will finance the development of thousands of safe, attractive, and affordable homes. This investment will create jobs, increase the housing supply, and support our community’s most vulnerable residents.