Alameda County Supervisors Scott Haggerty
and Richard Valle.
ALCO BOARD OF SUPERVISORS | During a meeting earlier this year, Alameda County Supervisor Scott Haggerty was nearly in tears.
The lack of affordable housing that has created so much fear in the East Bay and, in many cases, has forced residents to move elsewhere, had reached his inner sanctum.
His daughter was being priced out of the East Bay and was moving to Oklahoma where a new home was decidedly more affordable. This is why the county needs a housing bond, he went on.
After numerous meetings and extensive public outreach, the Alameda County Board of Supervisors will move next Tuesday to formally place a $580 million affordable housing bond on the November ballot.
The general obligation bond would require support from two-thirds of voters and benefit low-to-moderate income families by bridging the affordability gap for renters and new homebuyers, according to a county staff report.
As currently proposed, a vast majority of the measure’s proceeds–$460 million–would be set aside for rental housing. The remaining $120 million earmarked for aiding middle income, first-time home buyers, along with a program to help seniors and those with disabilities stay in their homes.
The proposed measure comes at time when the issue of affordable housing and gentrification in the East Bay is a major concerns for voters. In addition, the fall ballot will likely include measures enacting variations of rent control in Oakland, Richmond and Alameda.
Last week, the Santa Clara County Board of Supervisors approved a $950 million affordable housing bond for voters to decide next November.