Welfare Tax Exemption Preservation Program
BAHFA's Welfare Tax Exemption Preservation Program helps produce and preserve affordable housing by supporting private building owners' applications for property tax relief.
BAHFA created the Welfare Tax Exemption Preservation Program to help mission-driven housing developers achieve preservation and protection goals. The program provides the public sector support that private developers need to qualify for property tax relief under state laws. Eliminating property taxes from a building’s operating budget means lower rents for tenants. The program's assistance includes a recorded deed restriction on the property that ensures that rents remain affordable in the future.
Staff are available to work with all developers who are considering building acquisitions that meet the program’s term sheet requirements.
As of June 2024, the program has helped preserve the affordability of nearly 800 apartments across seven developments.
Staff Contact
Somaya Abdelgany
Phone: 415-778-5217
Email: [email protected]