Since the Great Recession ended in 2010, the Bay Area has added 722,000 jobs but constructed only 106,000 housing units, the compact notes, an imbalance that's led to widespread displacement and crippling congestion, as more residents are forced to move farther away from their jobs. The 15-year plan calls for producing 35,000 housing units a year in the Bay Area, with about 14,000 of them affordable to lower-income households. It also recommends preserving 30,000 affordable units, and protecting 300,000 lower-income households from displacement.
Corsiglia group's, the Committee to House the Bay Area, includes elected officials, developers and tenant advocates charged with creating a "15-year emergency policy package to confront the region's housing crisis head-on."
Central to the plan, which took upward of 18 months to draft, is the recommendation to create a regional housing entity with the authority to levy taxes and issue bonds to fund the construction of new affordable housing units, as well as administer the financial aid outlined in the compact.
Metropolitan Transportation Commission director Steve Heminger, who also signed the compact after his board overwhelmingly approved it in December, said he hoped the new agency would be created in time to place a revenue-generating measure on the 2020 ballot.
"We need a significant amount of new authority and new revenue to deliver on a solution to the housing crisis," Heminger said. "And for that you gotta go to Sacramento."
The compact endorses state action to create minimum density requirements near transit, (similar to Senate Bill 50, recently proposed by state Sen. Scott Wiener, D-San Francisco) and increase the number of projects eligible for expedited review.
It also proposes a regionwide cap on rent increases, and recommends creating a supply of emergency cash and legal assistance to tenants facing eviction.
An amendment added by Santa Clara County Supervisor Cindy Chavez asks state lawmakers to go further in protecting tenants -- including a request that the just-cause eviction provisions in the plan take effect immediately, rather than after a one-year waiting period.
The plan's backers hope the 10 proposals will be pursued concurrently in the state Legislature, although there's little guarantee that will happen.
Heminger argued that grouping the individual proposals together gives them a better chance of becoming law.