San Francisco legislators approve $40M housing bond for affordable multifamily projects

The San Francisco County government meeting held on July 4, 2025, focused on significant discussions regarding public transportation funding and housing initiatives. Key points included concerns raised about a proposed bond measure aimed at improving transit infrastructure, as well as the issuance of multifamily housing revenue bonds.

During the meeting, a speaker expressed strong opposition to the bond measure, arguing that it fails to address the needs of seniors and disabled passengers who rely on taxi services. The speaker criticized the Municipal Transportation Agency (MTA) for not adequately regulating rideshare companies like Uber and Lyft, which they believe has negatively impacted the taxi industry. They highlighted the urgent need for support for taxi drivers, particularly those facing foreclosure due to declining business.

In response to the discussions, Supervisor Safaie moved to accept amendments to the bond measure, which was approved by a vote of three ayes. The amendments aim to enhance labor equity and ensure that unions are considered in the funding process. The meeting concluded with a motion to continue discussions on the bond measure and related items to the next Budget and Finance Committee meeting.

Additionally, the meeting addressed the authorization of multifamily housing revenue bonds, totaling approximately $40.7 million for non-taxable bonds and $10 million for taxable bonds. These funds are intended for the acquisition and rehabilitation of affordable rental housing across several locations in the city.

Overall, the meeting underscored the ongoing challenges in balancing transportation needs with housing development, as well as the importance of ensuring equitable support for all community members. The next steps will involve further discussions on the proposed measures in upcoming committee meetings.