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Assembly Democratic Caucus

Bill For Bay Area's First Regional Housing Finance Agency Advances

Assembly Bill 1487 (Chiu), the "San Francisco Bay Area Regional Housing Finance Act”, advanced from the State Assembly to the State Senate. It will be heard by the Senate Housing Committee on June 18, 2019.

Please read on to learn about Assembly Bill 1487. If you agree that the bill is flawed and should be defeated, then please follow the “TAKE ACTION” suggestions at the end of this article.

About Assembly Bill 1487

The stated purpose of AB-1487 is to "establish the 'Housing Alliance for the Bay Area' in order to increase affordable housing in the San Francisco Bay Area by providing enhanced funding and technical assistance for tenant protection, affordable housing preservation, and new affordable housing production." The bill authorizes the creation of a bay area regional housing finance agency. The agency would have the authority to impose region-wide special taxes (including parcel taxes, business taxes, transactions and use tax), issue bonds, incur and issue debt, buy and sell land, and allocate funds, among other powers. It is unclear how many of the measures that generate revenues would require voter approval pursuant to the California Constitution. Proponents of the bill hope to raise $1.5 billion annually.

It makes sense that some funding (not the excessive sum of $1.5 billion annually) is needed for locally grown affordable housing projects and programs. However, another exorbitantly expensive regional body is unnecessary and unwanted to accomplish this.

Reasons to Oppose AB-1487

TAKE ACTION:

If you agree that Assembly Bill 1487 should be defeated, then please do the following ASAP:

Call the members of the State Senate Housing Committee and urge them to oppose AB-1487. In addition, please call and send letters to Senator Mike McGuire and your local representatives (City Councilmembers and County Supervisors) and ask them to oppose and lobby against the bill.

Sample Script: “Hi. My name is ____ . I’m calling in opposition to AB-1487, which will be heard in the Senate Housing Committee on June 18th. I agree that some funding (not the excessive sum of 1.5 billion annually) is needed for locally grown affordable housing projects and programs. However, another exorbitantly expensive regional body is unnecessary and unwanted to accomplish this. I urge the Senator to oppose this wasteful bill.”

Contact Information for the Senate Housing Committee members:

Senator Scott D. Wiener (Dem) (Chair), San Francisco: (916) 651-4011

Senator Mike Morrell (Vice Chair), Rancho Cucamonga: (916) 651-4023

Senator Patricia C. Bates (Rep), Laguna Hills/Encinitas: (916) 651-4036

Senator Anna M. Caballero (Dem), Merced/Salina: (916) 651-4012

Senator Maria Elena Durazo (Dem), Los Angeles: (916) 651-4024

Senator Mike McGuire (Dem), Marin & Sonoma Counties: (916) 651-4002

Senator John Moorlach (Rep), Costa Mesa: (916) 651-4037

Senator Richard Roth (Dem), Riverside: (916) 651-4031

Senator Nancy Skinner (Dem), Oakland: (916) 651-4009

Senator Thomas Umberg (Dem), Garden Grove: (916) 651=-4034

Senator Bob Wieckowski (Dem), Fremont: (916) 651-4010

Senator Mike McGuire’s email: senator.mcguire@senate.ca.gov

Senator Mike McGuire’s telephone: (916) 651-4002

Marin County Board of Supervisors’ email: bos@marincounty.org

Marin County Supervisors’ main telephone number: (415) 473-7331

Thank you in advance for taking action. Together we can make a difference!