Oversight board proposes $136M Prop I package for social housing; committee continues item

The Budget & Appropriations Committee on May 4 heard the Housing Stability Fund Oversight Board’s recommendations for spending Proposition I revenues and agreed to continue the item for further coordination with the mayor’s office.

Supervisor Dean Preston, sponsor of the item, said Prop I (November 2020) is projected to raise about $170,000,000 per year and described the oversight board’s unanimous recommendations for allocating the portion earmarked for social housing. Vice chair Fernando Marti outlined the board’s $136,000,000 package, which included a $60,000,000 land acquisition program focused on geographic equity and non‑traditional sites, $12,000,000 for educator housing, $15,000,000 for a notice‑of‑funds‑available for non‑tax‑credit construction projects, $15,000,000 for accessibility upgrades to limited equity co‑ops and public housing, $10,000,000 for elevator and accessibility upgrades in residential hotels, $11,500,000 to supplement prior preservation funding, $3,000,000 for city staffing and a feasibility study for a municipal housing agency, and $6,000,000 to fund innovation and capacity building.

Oversight Board Chair Shanti Singh described the process as ‘‘community‑led’’ and urged supervisors to follow the recommendations. Speakers from Jobs with Justice, the Mission Economic Development Agency, San Francisco Community Land Trust, senior and disability advocates and tenant groups urged the committee to adopt the full package, arguing the funds should move quickly to repair elevators, preserve deeply affordable units and pilot municipal social housing models.

Supervisor Walton, Supervisor Marr and others expressed support and asked the mayor to include the recommendations in the proposed budget. After public testimony—from senior advocates, tenants, labor and anti‑displacement groups—Chair Ronan moved to continue the item to the call of the chair to allow parallel work with MOHCD and finalize details; the motion passed on roll call with four ayes and one member absent.

What’s next: Staff and the mayor’s office will work with the oversight board and presenters to integrate feasible recommendations into the mayor’s proposed budget and return the item to committee.