Assembly Member David Chiu, author of AB 1487, and his colleagues in the California legislature have removed all hint of what the bill would specifically do if signed into law. Now, in essence, the bill simply says that a new agency is being created with power to raise, administer, and allocate funding as it sees fit for affordable housing in the San Francisco Bay area.
Not much of what was said of Assembly Bill 1487 when it was first introduced in February 2019 applies. “Stakeholders and local leaders” are at present meeting with legislators to re-construct the peripherals of the bill. Of course, the core feature remains: Establishment of the Bay Area Housing Financing Authority, an agency that will initially share staffing with the Bay Area’s Metropolitan Transportation Commission, and that will have power to raise tax money from all counties in the Bay Area.
BAHFA as MTC’s Other Self
The proposed new agency will serve as the Metropolitan Transportation Commission’s other self, with the additional coveted ability to raise funds.
MTC, the Bay Area’s version of a federally-mandated Metropolitan Planning Organization, has what one might call a checkered past. Its major feats are finalizing the construction of a span of the Bay Bridge damaged by the 1989 Loma Prieta earthquake after years of delays and billions in costs overruns, and implementing central planning via Plan Bay Area (approved in 2013 by MTC Commissioners, but never by voters). Today, MTC doles out considerable sums under its various centrally-planned transportation and housing projects, but it does not have power to raise fund. It will indirectly should AB 1487 pass.
So, now the prospects are excellent for MTC’s other self, the Bay Area Housing Financing Authority, routinely to raise taxes regionally in the fashion of Measure AA. As the Just Vote No Blog noted in With AB 1487 There is No Opt Out, in 2015 Measure AA passed by the aggregate votes of all counties without possibility of any county opting out.
An Alternative to Putting Lipstick on AB 1487
AB 1487, last amended July 11, 2019, is currently an active bill in Floor process. A third reading in the Senate is scheduled for August 26, 2019.
Individuals and organizations concerned about BAHFA’s undue influence in the operation of their city or county should remember that the agency’s success in raising money depends entirely on the willingness of taxpayers to part with their hard-earned cash.
The possibility of residents becoming aware of how much control they will cede to a regional agency such as BAHFA and deciding to vote “No” on BAHFA funding proposals might give legislators some pause in moving forward with their plans. For those opposed to mandated central planning, aiming for such pause might be more effective than accepting BAHFA as fait accompli and merely attempting to negotiate damage control with legislators.
Putting lipstick on a piggy will not make it any pettier.
Addendum: The Transformation of NeighborhoodsParkmerced, a traditional privately owned residential community in the heart of San Francisco that houses over 3,000 residents, has developed Parkmerced Vision. Under the plan, the garden homes surrounding green spaces will be demolished to make room for taller, denser buildings. Some applaud the plan, others despise it. The transformation of neighborhoods is occurring for good or bad all over the state. A regional housing agency such as the proposed Bay Area Housing Financing Administration is intended to accelerate the process by injecting public funds for subsidized housing.