BAHFA Opens Welfare Tax Exemption Program to New Construction
BAHFA Board • Bay Area Housing Finance AuthorityMay 27, 2026
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The Bay Area Housing Finance Authority's tax-exemption program for affordable housing will no longer be limited to preserving existing buildings. On May 27, 2026, the BAHFA Board unanimously adopted Resolution No. 16, which extends the program to new construction projects. In a second unanimous vote, the board set up a fee schedule so BAHFA can run the program itself.
- Resolution 16 expands the Welfare Tax Exemption Program to new construction. It passed 14-0.
- "Preservation" is dropped from the program's name to reflect its broader scope.
- Resolution 39 adopts a fee schedule and gives staff authority over fees. It also passed 14-0.
- Fee amounts were not stated publicly before the vote.
The basics: Until this vote, BAHFA's program was called the Welfare Tax Exemption Preservation Program. As the name suggested, it focused on preserving existing affordable housing. Resolution No. 16 updates both the program's terms and its name.
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