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Mayor Thao Applauds Passage of Resolution Committing $50 Million in Measure U Funding for Affordable Housing Development

Yesterday, March 21, 2023, the Oakland City Council voted to approve the resolution allowing the City to expand opportunities for new projects and create hundreds of units of affordable housing.

Pictured (left to right) : Councilmember Fife, Mayor Thao, Councilmember Kaplan, Council President Bas, and Councilmember Jenkins

FOR IMMEDIATE RELEASE

March 22, 2023

Contact: Kimberly Jones, Chief of Staff to Councilmember Rebecca Kaplan

(510) 681-8641 | ​Kjones3@oaklandca.gov

Oakland, CA - Oakland’s Mayor Sheng Thao applauded last night’s passage of a Council resolution allocating $63 million in city funds to fund affordable housing applications. Fifty million of that would come from a forward commitment of Measure U bond funding.

“This resolution was created in a collaborative process to ensure we’re funding desperately needed affordable housing in Oakland,” said Mayor Thao. “Voters said they wanted to fund more affordable housing and today we’re putting that funding to work. This vote is an early example of how much we can do for our city when we stand together as one Oakland.”

On March 20, 2023, Mayor Sheng Thao, Council President Nikki Fortunato Bas, and Councilmembers Rebecca Kaplan, Carroll Fife and Kevin Jenkins held a press conference in support of committing Measure U funds to affordable housing project applications. Yesterday, March 21, 2023, the Oakland City Council voted to approve the resolution allowing the City to expand opportunities for new projects and create hundreds of units of affordable housing.

“Affordable housing is the key to supporting Oakland families,” said Councilmember Rebecca Kaplan. “Measure U allows us to do more to develop this housing without raising taxes and now we can see how that initiative will benefit our entire city.”

“Oakland voters sent a clear message last fall: they want affordable housing,” said Council President Bas. “Today, we’re starting to put those funds to work. We are fortunate to have had so many applications to create more affordable housing in Oakland and now we can provide those projects with the support they need to move forward.”

“Measure U represented a major commitment to affordable housing in Oakland,” said Councilmember Fife. “Now eligible projects can leverage that commitment to secure additional financing, continue development and get us that much closer to hundreds of new units of affordable housing.”

“We have to invest in affordable housing in every part of our city,” said Councilmember Jenkins. “Today’s resolution will let us do that. Our communities will benefit from more affordable housing which helps give families a boost and supports diverse neighborhoods.”

Link to the legislation: Here

Link to the Full Agenda: Here

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Posted: March 22nd, 2023 11:23 AM

Last Updated: March 22nd, 2023 11:48 AM

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