The Need for Affordable Housing Funding
The high price of housing in Silicon Valley affects everybody who lives and works here. It is especially hard for young families, seniors, and anybody who works hard to make ends meet. People whose families have lived in Santa Clara County for generations are being displaced. People are becoming homeless.
We have not built enough affordable housing in Santa Clara County. Recent estimates show that we have a shortage of approximately 60,000 affordable homes in our county. While we have made some progress reducing land use barriers for affordable housing, our communities still do not have sufficient funding in order to produce and preserve all the housing that we need.
The Regional Housing Bond
The Bay Area Housing Finance Authority (BAHFA) is putting a regional housing bond measure on the November ballot. If approved by the voters of the nine-county Bay Area, this bond would provide an estimated $20 billion for production and preservation of affordable housing. Approximately $4 billion would be dedicated for Santa Clara County and cities within Santa Clara County — this is by far the largest allocation of funds for any of the nine counties in the Bay Area.
This bond would be a huge positive step for the region, for our county, and our communities! Please join us in doing what we can to support making housing more affordable!
