LAFCO and city staff outline San Francisco green‑bank planning and GGRF coordination

LAFCO Executive Officer Jeremy Pollack and policy analyst Khaled Samura briefed commissioners on coordination around the Greenhouse Gas Reduction Fund (GGRF) and work to develop a San Francisco Green Bank.

Samura noted the GGRF — described in the presentation as a $27,000,000,000 portion of the Inflation Reduction Act administered by the EPA — and said San Francisco provided two letters of general support to applicants. The letters were coordinated with the Department of the Environment and the mayor’s office, and LAFCO staff also advised the treasurer’s office on support to Inclusiv, a national network of community development credit unions.

Pollack said LAFCO’s green‑bank financing study will build on prior work on a municipal financial corporation (MFC) and the city’s reinvestment working group. Staff plan to present an RFP for the green bank finance study at the January 2024 meeting, and Pollack said he is working with Supervisor Preston on an ordinance to establish a San Francisco Green Bank.

Commissioners asked about the building decarbonization study timeline and how the green bank might support building electrification. Staff said they would follow up with the Department of the Environment and return with specific timelines and answers at the January meeting.

No formal action was taken on the green bank study at the November meeting; staff requested feedback and signaled plans to return with an RFP and additional details.