San Francisco Board of Supervisors approves Central SoMa Legacy Business fund and affordable housing
January 24, 2022 | San Francisco County, California
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In a recent San Francisco County government meeting, significant progress was made on the Central SoMa Legacy Business and PDR Support Fund, alongside the Jackson Playground Park Fund. This ordinance aims to amend the Administrative Code to facilitate these initiatives, which are part of the broader Flower Mart Development Agreement.
The meeting highlighted the creation of a $20 million fund dedicated to supporting legacy businesses and production, distribution, and repair (PDR) sectors in the Central SoMa area. Additionally, a $2.158 million fund was established for the development of Jackson Playground Park. These funds are intended to stabilize small businesses and enhance community resources in the region.
The city also authorized the acceptance of land at 71 Boardman Place for the development of 100% affordable housing, addressing the pressing need for affordable living spaces in San Francisco. This decision is part of a long-term strategy to improve housing availability and support community development.
Anne Topier from the Office of Economic and Workforce Development provided insights into the trailing legislation, emphasizing its importance in fulfilling commitments made in the original development agreement approved in January 2020. The meeting also included technical amendments to ensure proper documentation and funding allocations.
The amendments discussed included a one-time payment of $919,000 from Kilroy Corporation for environmental cleanup at the Boardman site, as well as adjustments to the jobs housing linkage fee credit. These changes reflect ongoing efforts to ensure responsible development practices and community investment.
As the meeting concluded, the Board opened the floor for public comments, inviting community members to engage in the discussion surrounding these critical developments. The outcomes of this meeting are expected to have lasting impacts on the economic landscape and community infrastructure in San Francisco County.
The meeting highlighted the creation of a $20 million fund dedicated to supporting legacy businesses and production, distribution, and repair (PDR) sectors in the Central SoMa area. Additionally, a $2.158 million fund was established for the development of Jackson Playground Park. These funds are intended to stabilize small businesses and enhance community resources in the region.
The city also authorized the acceptance of land at 71 Boardman Place for the development of 100% affordable housing, addressing the pressing need for affordable living spaces in San Francisco. This decision is part of a long-term strategy to improve housing availability and support community development.
Anne Topier from the Office of Economic and Workforce Development provided insights into the trailing legislation, emphasizing its importance in fulfilling commitments made in the original development agreement approved in January 2020. The meeting also included technical amendments to ensure proper documentation and funding allocations.
The amendments discussed included a one-time payment of $919,000 from Kilroy Corporation for environmental cleanup at the Boardman site, as well as adjustments to the jobs housing linkage fee credit. These changes reflect ongoing efforts to ensure responsible development practices and community investment.
As the meeting concluded, the Board opened the floor for public comments, inviting community members to engage in the discussion surrounding these critical developments. The outcomes of this meeting are expected to have lasting impacts on the economic landscape and community infrastructure in San Francisco County.
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