What should the Bay Area's first ever regional housing agency do to advance a future housing system that is more equitable and just?
The Bay Area Housing Finance Authority (BAHFA) is the region’s first housing finance agency, authorized through state legislation (AB 1487) in 2019. BAHFA is a joint effort of the Metropolitan Transportation Commission (MTC) and the Association of Bay Area Governments (ABAG), who have partnered with a wide array of community partners, experts, researchers, and consultants to build a business plan that will create a more equitable housing system in the Bay Area. BAHFA presents a historic opportunity to respond to the region’s crises of housing affordability and racial inequity.
BAHFA will lead in providing new financing tools to the nine counties within the region and raising significant new housing revenue from a variety of sources, that could include a regional ballot measure, state or federal appropriations, as well as philanthropic and corporate contributions. Specifically, BAHFA will raise and allocate funding for a variety of housing interventions across the Bay Area.
BAHFA will focus on comprehensive, data-driven, and equity-focused programs and strategies to address the complex nature of the housing crisis in the region. This involves prioritizing communities that are most impacted by the region’s affordability crisis, especially low-income communities and communities of color. To operationalize its equity focus, BAHFA will be guided by an Equity Framework, which is a written document with concepts, goals, criteria, and metrics that will inform decisions made about the agency’s program offerings and strategic priorities in three areas: production, protection, and preservation ― also known as the “3 Ps.”
What are the 3 P’s?
- Protection: protect current residents from displacement and homelessness by ensuring that they have rights and resources to remain in their homes.
- Preservation: preserve existing homes affordable to BIPOC and lower- and middle-income residents to guarantee that the current housing stock remains healthy and affordable into the future.
- Production: produce new homes at all income levels, with a commitment to use public policy and funding to encourage deeply affordable housing for those most in need.
Equity Framework Development: What is the role of the Othering & Belonging Institute (OBI) and the Equity Working Group?
The Metropolitan Transportation Commission has contracted OBI to support the development of an equity framework that will inform BAHFA’s housing interventions. OBI has convened an Equity Working Group comprised of stakeholders that represent the region’s communities most impacted by the region’s affordability crisis, especially low-income communities and communities of color. To receive updates and information about opportunities to engage, register at this link.
The Equity Working Group will work with the institute to co-create a written document with concepts, goals, criteria, and metrics, with input from a consultant team, that OBI will submit to BAHFA staff and formal decision-making bodies (BAHFA Oversight Committee and ABAG Housing Committee) for potential revisions and final approval. The Equity Working Group will meet approximately four times between March and July to develop a draft Equity Framework and metrics.