County Gives $44M to Housing
County gives $44M to housing: Supervisors aim to leverage locally-controlled revenue for affordable units – Daily Journal, 5/17/17
After pinching pennies where possible, San Mateo County officials cranked up their commitment to addressing the skyrocketing cost of living by allocating $43.75 million toward affordable housing over the next two years.
For weeks, the Board of Supervisors and county staff have been tinkering with a budget proposal on how to leverage locally-controlled sales tax dollars in support of housing solutions for low-income earners. On Tuesday, the board unanimously approved a blueprint for how it will spend Measure K proceeds.
The half-cent sales tax recently extended by voters generates about $80 million annually and supports a range of services from parks to mental health programs and information technology equipment to transit operations.
An initial proposal to commit $15 million annually prompted advocates to contend the housing crisis demands more urgent action. County officials responded by considering cuts to other expenditures and eventually landed on a plan to spend $22.5 million next fiscal year and $21.25 million the following.
– See more on the Daily Journal.