Hack the Housing CrisisJune 13, 2014

369 Pine Street, Suite 350

San Francisco

www.lisc.org

www.bayarealisc.org

Local Initiatives Support Corporation

• LISC is a national nonprofit with a community focus. Bay Area LISC works to make neighborhood dreams a reality by working with cities, residents, nonprofit organizations, and key public and private partners to help neighbors build good places to live, do business, work, play, and raise families.

www.lisc.org www.bayarealisc.org

The Problem• Average rent in the Bay Area for the first quarter

of 2014 was $2,043, a nearly 10 percent increase from the same time period in 2013.

• Among the largest cities in the Bay Area: San Jose had an average rent of $2,066, Oakland at $2,187 and San Francisco at $3,057 during the first quarter this year.

• Incomes needed to afford these rents– SF: $58.79 per hour, or $122,280 per year– OAK: $42.06 per hour, or $87,480 per year– SJ: $39.73 per hour, or $82,640 per year

Sources: RealFacts, NLIHC

Solutions - State

• General Fund (Atkins) – $100 million in 2014-15 for the

Multifamily Housing Program (MHP), with half designated for supportive homes.

• Need to look for local, regional and statewide solutions.

• Passage of Proposition 41 – authorized $600 million in Bonds to fund the acquisition,

construction and rehabilitation of affordable multifamily supportive housing, affordable transitional housing, affordable rental housing, or related homeless and low‐income veterans and their families.

More Solutions – Cap and Trade

• Cap-and-trade auctions could generate as much as $1 billion in 2014-15.

• TransForm and the California Housing Partnership calculated that investing 20% of cap and trade proceeds into housing for three years starting in 2015 would result in 30,000 homes that would remove 210,000,000 miles of vehicle travel per year from our roads.

More Solutions - Advocacy

• Get involved

• Advocacy organizations

– Council of Community Housing Organizations (CCHO)

– East Bay Housing Organizations (EBHO)

– NonProfit Housing Association (NPH)

– Housing California