Alameda Co. Puts Up $580 Million Housing Bond
A decision on a $580 million affordable housing bond proposed for the November 2016 ballot is set to go before the Alameda County Board of Supervisors on June 28, 2016. While the bulk of the bond is earmarked for rental housing programs, it allocates $120 million for homeowner assistance. BIA|Bay Area joined others and successfully advocated to expand the homeowner down-payment assistance loan program eligibility to include middle-income residents such as teachers, electrician, plumbers and firefighters. Other homeownership components include a housing development program designed to help low income households to become first-time homebuyers and a fund to help the poor make and keep their existing homes safe. The funds will be disbursed in sub-regional pools and to cities based on population. If voters approve the bond in November, it will cost landowners an average $11.60 per $100,000 assessed valuation per year. Click here to download a slideshow outlining the proposed housing bond. Click here to view the Board of Supervisors agenda.