Budget committee adopts amendments to update Prop I social housing appropriation, continues ordinance to June 29

Chair Supervisor Hillary Ronan and colleagues on the Board of Supervisors' Budget & Appropriations Committee on June 23 accepted amendments to an appropriation ordinance intended to advance recommendations from the Housing Stability Fund oversight board and continued the item to the committee's June 29 meeting.

Supervisor Dean Preston presented the package of substantive amendments to board file 211194, saying the changes would “deliver on the promise of providing permanently affordable social housing” funded through certificates of participation (COPs). Preston and the Budget Legislative Analyst described a $122,000,000 COP-eligible package that the oversight board had recommended: $60 million for land acquisition for 100% affordable housing; $20 million for development of social housing; $20 million for life-safety upgrades and emergency repairs in public and limited-equity housing cooperatives; $12 million for educator housing construction; and $10 million for elevator installation and upgrades at nonprofit-owned SROs.

Chair Ronan moved to accept the amendments as laid out by Preston; President Walton seconded. The committee then voted 5–0 on a roll-call to amend the ordinance (ayes: Safae, Marr, Chan, Walton, Ronan) and subsequently voted 5–0 to continue the ordinance, as amended, to the June 29 Budget & Appropriations meeting so the public may comment on the continuance.

Why it matters: Prop I, the 2020 ballot measure that increased the real-property transfer tax on high-end sales, was passed by San Francisco voters with the intent that revenue be used for affordable housing. The oversight board identified a suite of uses for the funds; the committee’s amendments would authorize COP financing to move forward on those eligible recommendations while allowing more detailed public review next week.

What’s next: The ordinance (file 211194) will return to the Budget & Appropriations Committee on June 29. Committee staff and the controller’s office will prepare technical materials reflecting the amendments in advance of public comment.

Quotes: “These amendments will deliver on the promise of providing permanently affordable social housing,” Supervisor Preston said in presenting the package. Chair Ronan moved acceptance of the amendments and the committee recorded five ayes on both the amendment and the continuance vote.

Ending: With the vote to continue, the committee left the ordinance open for additional public input and technical refinement; final action is scheduled for the June 29 hearing.