By Kevin V. Nguyen : sfstandard – excerpt

They want us to pay for our own displacement is they plow down our homes to make room for the millions they claim need housing, in spite of the loss of population in the state.

Voters will decide on this massive new IOU in this upcoming November election

With state and federal funds drying up, banks lending less, and more cities facing budget deficits, tens of thousands of newly proposed affordable homes have been stuck in limbo, unable to get off the ground.

So come this November, Bay Area voters will not only be weighing in on the next U.S. President, but also, whether or not they should step in and loan the nine-county region a total of $20 billion to move those efforts along.

Last week, the commissioners of the Bay Area Housing Finance Authority—a first-of-its kind agency created in 2020—voted unanimously to put the bond measure on ballots to fund new subsidized housing projects, buy up existing homes to make or keep them affordable, and support housing-related infrastructure…

The bond would be funded by property tax increases, with an estimated tax of $19 per $100,000 of assessed value, which shakes out to about $190 per year for a home assessed at $1 million.

If voters approve this IOU, each city would receive a cut of the proceeds based on how much its jurisdiction pays in taxes. San Francisco, for example, would get about $2.4 billion to invest, while the city of Oakland would get over $720 million. The funds would be dispersed in the form of low-cost loans.

BAHFA estimates that paying off the loan would add up to nearly $50 billion after interest. The mayors of San Francisco, San Jose and Oakland all expressed support for the bond measure. …(more)

The MTC who can’t make the trains run on time and splurges on a multi billion dollar building in San Francisco, a the tax payers expense, not wants to sell us on a housing plan that is wants to charge us for by raising property taxes. At a time when property values are receding like yesterday’s tide.

Already people who bought into the ADU concept are shocked by their higher taxes, due to the recent rise in valuation of their property. How many property owners are willing to eat the higher taxes without passing their onto their tenants? Seriously? We are going to trust the MTC with more money when they are refusing to listen to us?

These are the people who removed single family housing from the state, killed the solar industry, want to remove our private vehicles and replace gas stoves with electric that will run on nuclear power and whatever else Big Energy can find to burn. MTC is trying to force us back into the lifestyle we just pulled ourselves out of. They want us to live in tiny homes and commute to tiny office cubicles to keep their computer vehicles working. They call this backward plan their vision of the future?

This is the anti-farm pro-housing gang that seeks to plow over our farms and ranch to build more housing. Who needs fresh food when you can live in tight close quarters and eat who knows what and look cool toting your life in a bag on the Muni on your way to the Mayor’s latest rave?

Newsom is moving this family to Marin but, they will not be living in one of those little units next to the 101 Smart Train station in San Rafael. They will be living on acreage and saving for their children’s future by building equity in their homes. What will we get? Another day older and a another month’s rent.