In a significant milestone for affordable housing in Santa Clara County, the Santa Clara County Board of Supervisors recently approved what may be the final round of disbursements from Measure A, a voter-approved $950 million affordable housing bond passed in 2016.  This milestone underscores Measure A’s pivotal role in financing affordable housing, with approximately $857 million allocated to date. The recent approval earmarks $36.1 million from Measure A to fund six new developments, providing a total of 716 units across Palo Alto, Mountain View, and San Jose. These projects increased the total number of projects funded by the bond to 50, with over 5,816 new units occupied, under construction, or entitled, surpassing the target goals.

As Measure A nears the end of its funding pool, stakeholders are confronted with the challenge of navigating a landscape without its substantial support. With only $92.4 million of Measure A funds remaining of which $32.3 million is earmarked for priority projects, affordable housing advocates and developers now stand at a critical juncture. The foreseeable end of Measure A prompts discussions not only about innovative funding sources and potential collaborations but also about the upcoming proposed Bay Area Housing Finance Authority (BAHFA) bond. The BAHFA bond, set to hit the ballot next November with $10-20 billion in funding, adds a layer of optimism for sustaining affordable housing momentum. As stakeholders grapple with this transition, the need for continued collaboration, creative solutions, and exploration of new funding avenues echoes louder, emphasizing the importance of the foundation laid by Measure A and the opportunity to build upon that foundation that lies ahead.