Regional board may pull the plug on $20 billion Bay Area housing bond

Barely adequate polling numbers and uncertainty over state proposition has BAHFA boardmembers skeptical about pivotal bond measure's chances in November

ELECTION 2024

84 days to Election Day

REGIONAL MEASURE 4

—HOUSING FAIL?—The regional ballot measure that could potentially bring Alameda County a $2 billion windfall to be used for new housing is on life support.

—The Bay Area Housing Finance Authority (BAHFA) is calling a special meeting for this morning to discuss withdrawing the $20 billion regional housing bond measure from the Nov. 5 ballot.

—Later today is the filing deadline for the November ballot.

—The BAHFA board approved placing the nine-county Bay Area bond measure on the ballot in June.

—Alameda County Supervisor Nate Miley, Oakland Mayor Sheng Thao, and Union City Mayor Carol Dutra-Vernacci sit on the BAHFA board. Former Oakland Mayor Libby Schaaf is a non-voting member of the board.

—Much uncertainty surrounds Regional Measure 4. Polling back in June showed the bond measure garnered tepid support from 55 percent of those surveyed.

—Proposition 5, a statewide initiative also on the November ballot that would lower the threshold for passage of tax measures to 55 percent, is also causing concerns about Regional Measure 4 chances…

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