AB 1487. This bill, as amended this week, creates an “uber” regional agency (the Bay Area Housing Finance Authority – BARHF) that will govern and fund housing in the nine-county SF Bay Area. These last-minute amendments prevent any public review, hearing, or comment on the creation of a new, powerful regional authority. This “housing finance authority” will be governed by the Metropolitan Transportation Commission (MTC) board and staffed by MTC employees.
The MTC will hand-pick a small group of representatives to make housing and fiscal policy for the entire Bay Area. The bill also gives this entity the power to propose taxes, to distribute funds among public and private entities (including housing developers), and to impose its measures on local governmental ballots.
This bill is an overreach and expands the MTC’S charter without any voter approval. Many local officials are concerned about this takeover of their local authority. Please write to Governor Newsom asking him to veto this bill so that the creation of a regional finance authority can receive full review and hearing. If possible by Tuesday, September 3, please write to your local assemblyperson. For Dolores Heights, our Assemblyperson is David Chiu, who sponsors this bill. We urge you to register your opposition – even with a sponsor.