Bay Area Council and State Treasurer Angelides Lend Momentum to Smart Growth.

SAN FRANCISCO--(BUSINESS WIRE)--June 24, 1999--

The Bay Area Council and political leaders such as State Treasurer Phil Angelides are moving aggressively to encourage new measures that would promote sustainable development, also known as "smart growth," for the Bay Area and other parts of California.

Such measures, part of a sustained effort to address the growing problems of housing and transportation in the nine-county Bay Area and the State overall, appear to be picking up valuable momentum.

State Treasurer Angelides, who recently met with the Bay Area Council Executive Committee to outline his vision for smart growth, will give a speech on this topic at the Commonwealth Club of California, entitled, "Smart Investments for California's Future." His analysis is based in part on data contained in the California Debt Affordability report, which describes the State's ability to afford to borrow money for investments in physical infrastructure. Such investments are needed to accommodate State population growth, which is expected to grow by approximately 10 million persons by the year 2010.

In his remarks Angelides will outline preferred investment principles, including sustainable development and sound environmental practices, vigorous planning at the regional level, and investment in economically depressed inner cities and rural areas. His speech, which is open to the public, is scheduled for Friday, June 25 at 12:30 PM at the Crowne Plaza Hotel, 480 Sutter Street, San Francisco. Tickets to this luncheon program can be purchased by calling the Commonwealth Club at 415/597-6705.

Sunne Wright McPeak, President and CEO, Bay Area Council, stated that, "The Bay Area Council applauds the vision and leadership of the State Treasurer as he advocates for sustainable development. We look forward to supporting him and working closely with him in this regard. After all, smart growth simply makes common sense."

As part of a multi-pronged approach to implementing sustainable development in the Bay Area, the Bay Area Council has recently launched a series of initiatives affecting housing, transportation, economic development and environmental conservation. As an example, the Bay Area Council is spearheading an effort called the Community Capital Investment Initiative, which is bringing together the investment community and community development leaders to foster development in 46 targeted, economically depressed communities.

In addition, the Bay Area Council is part of a leadership team, which includes the Sierra Club, the Urban Habitat Program, and the Association of Bay Area Governments, that has convened the Bay Area Alliance for Sustainable Development. The purpose of the Bay Area Alliance, which is working through dozens of cooperating organizations and businesses, is to promote development in the region that simultaneously supports the goals of economic growth, environmental protection and social equity.

The Bay Area Council earlier this year unveiled the Jobs-Housing Footprint Project, designed to help stakeholders reach consensus on housing development decisions, and also released the Fair Share Housing Inventory, which demonstrated that from 1988 to 1998 50 Bay Area communities fell short by some 81,052 housing units of providing their "fair share" of housing to accommodate their growing populations.

The Bay Area Council simultaneously released the results of an internal member survey, conducted in May, which showed that on a scale of 1 to 10 an overwhelming 90 percent of respondents rated "the housing availability problem" as an 8, 9 or 10 in terms of its critical nature. Another 64 percent gave a rating of 8, 9 or 10 regarding the extent to which "the lack of available and affordable housing" was affecting their ability "to attract and retain qualified employees."

The Bay Area Council is a CEO-led, business-sponsored public policy organization founded more than 50 years ago to promote regional economic prosperity and quality of life. The Council presents a strong, united voice for major employers from throughout the region to help shape public policy affecting transportation, environmental quality, economic development, housing and land use, sustainable development, water policy, education and workforce preparation, and telecommunications infrastructure.