BAHFA Releases New Concept Paper, Kicks Off Business Plan
Last month, the Association of Bay Area Governments and the Metropolitan Transportation Commission released a concept paper on the new Bay Area Housing Finance Authority (BAHFA): Momentum for Lasting Solutions: Launching the Bay Area Housing Finance Authority and the Expanded Regional Housing Portfolio.
Assemblymember David Chiu, who authored the enabling state legislation for BAHFA, shared his continued support for BAHFA and the opportunities it offers for the region.
"BAHFA is more than just a vehicle for voters to support affordable housing. It’s also a vehicle for collectively addressing our housing crisis, embracing bold ideas, testing innovative approaches, strengthening the partnership between ABAG and MTC through shared decision-making, and fostering new funding partnerships with foundations and the private sector."
The request for proposals is also open for consultant teams to create the BAHFA business plan. The agencies are looking for an expert consultant team who can provide in-depth expertise in designing BAHFA to address the housing crisis at scale and begin to deliver on bold regional housing outcomes that advance social and racial equity.
The signature effort of the consultant team is to:
- Develop an outcomes-driven regional housing strategy that is structured around a strategic, equity-focused framework as demonstrated through measurable outcomes
- Identify and design innovative funding and financing tools
- Create effective structure and operations for BAHFA
The RFP is due April 8, 2021.