Peggy Jen, Senior Program Officer at Bay Area LISC, or Local Initiatives Support Corporation, talks about cap-and-trade as a possible solution to the housing crisis at San Francisco Public Press thought leader event "Hack the Housing Crisis." Peggy presented both the problem and some solutions to address the Housing Crisis

1. Hack the Housing Crisis
June 13, 2014
369 Pine Street, Suite 350
San Francisco
www.lisc.org
www.bayarealisc.org

2. 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

3. 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

4. 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.

5. 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.

6. More Solutions - Advocacy
• Get involved
• Advocacy organizations
– Council of Community Housing
Organizations (CCHO)
– East Bay Housing
Organizations (EBHO)
– NonProfit Housing Association
(NPH)
– Housing California