California Legislature Approves Creation of Housing Alliance for the Bay Area

The California State Assembly approved Assembly Bill 1487,that would authorize the creation of the Housing Alliance for the Bay Area, tasked with raising public funds and providing technical assistance to create and preserve affordable homes and offer tenant protections across the region. The formation of this proposed regional agency was a key component of the Committee to House the Bay Area set of principles, approved by a group of stakeholders and leaders earlier this year, to generate $1.5 billion annually to enable the new agency to address the region’s housing challenges. The bill now heads to the California State Senate for Consideration.