New Report Charts Course for Tackling Bay Area's Chronic Housing Affordability Problems
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SAN FRANCISCO, Feb. 25, 2021 /PRNewswire/ -- The Association of Bay Area Governments (ABAG) and the Metropolitan Transportation Commission (MTC) today issued a detailed new report, entitled
Momentum for Lasting Solutions, to serve as a roadmap for private investors as well as federal, state and local governments to combine forces in a comprehensive regional effort to deliver housing affordability throughout the nine-county Bay Area.
Specific strategies identified in the report include securing billions of dollars in dedicated funding; fortifying cities' and counties' capacity to produce and preserve housing while also protecting residents from displacement; and launching new pilot programs to prevent homelessness, spur the preservation of existing housing, bolster rental and mortgage assistance, create a single regional platform for affordable housing applications, and establish a regional database to monitor the "pipeline" of new projects in the planning, permitting, financing and construction phases. Near-term actions proposed in the report are designed to lay a foundation for the Bay Area to efficiently and effectively deploy future capital resources, including funds from a potential nine-county ballot measure.