By Laksh Bhasin, co-author of the SF Community Housing Act
Editor’s Note: The SF Community Housing Act (or, per the San Francisco Department of Elections, “Parcel Tax for Affordable Rental Housing Program”) is in the signature-gathering phase to qualify for the November ballot. HANC has not yet made its endorsements for November, but has given the proponents of this measure an opportunity to explain their measure both here in the Voice and at our June meeting.
The housing affordability crisis in San Francisco didn’t begin overnight: federal cuts to HUD by presidents like Reagan and Trump, coupled with trickle-down tax cuts for corporations, and an unchecked, insatiable real-estate market, have driven displacement. Development decisions are often guided by private investors looking for a return on investment, not social good.
Enough is enough. That is why I co-authored the San Francisco Community Housing Act, a potential November 2018 initiative to fund the acquisition and construction of 1500 units of affordable housing throughout the City every three years.
These units will be self-sustainable, permanently owned and maintained by the City (not billion-dollar corporations), and overseen by Community Councils of tenants, elected by tenants, to hold the City accountable.
To achieve this, we raise over $210 million/year from a progressive $0.43/sq. ft. parcel tax on floor area of taxable property, while exempting owner-occupied homes earning below the Area Median Income ($115,000 for a family of four) – one of the largest exemptions ever created in such a tax. Our progressive tax structure would require the Salesforce Tower and similar large buildings to pay $600,000/year – their fair share, relative to other smaller properties.
Along with affordable housing, we'll fund childcare facilities, community meeting spaces, and more frequent bus service – all to holistically address systemic issues faced by ordinary San Franciscans.
We crafted our initiative over eight months with housing activists, policy experts, and city planners. We’ve been endorsed by the SF Berniecrats, SF Green Party, and Gayle McLaughlin. Former US Secretary of Labor, Robert Reich, has tweeted in support of us.
For too long, working-class and moderate-income San Franciscans have been priced out of the very city they serve. Together, we can invest in our city from the bottom up, not trickle-down.
Laksh Bhasin is a coauthor of the SF Community Housing Act. Help collect signatures by following the campaign Facebook page (“SF Community Housing Act”), and find out more at www.sfcommunity.us