Committee advances $300 million affordable housing bond and March 2024 special election measure

The San Francisco County Budget & Finance Committee on Nov. 1 voted to send to the full Board of Supervisors a bond measure that would authorize up to $300 million in debt to finance construction, acquisition and rehabilitation of affordable rental housing and an accompanying ordinance to place the measure on the March 5, 2024 special election ballot.

Chair Supervisor Connie Chan moved the items to the full board with a recommendation after the Budget and Legislative Analyst updated its earlier recommendation to approve the items. The committee ultimately recorded a final roll call returning three ayes and advanced the measures.

Why it matters: supporters said the bond would preserve existing units, leverage state and federal funds and help prime a regional housing effort. John Avalos of the Council of Community Housing Organizations told the committee the $30 million set aside for preservation “is essential” and that bond dollars can leverage Inflation Reduction Act and other funds for decarbonization.

Public comment highlighted calls for stronger environmental and tenant protections. Alaina Engel of 350 San Francisco and the San Francisco Climate Emergency urged the committee to require the removal of natural gas (methane) from low‑income housing during rehabs, citing a BLA estimate that decarbonization would add roughly 3%–4% to the $30 million preservation allocation. Engel said removing gas during rehabilitation is more equitable, reduces indoor air pollution and helps prevent asthma in children.

Committee process and next steps: the committee’s action forwards both a policy resolution (determining public necessity and authorizing bond indebtedness subject to citizen oversight and audits) and the ordinance calling the March 5 special election. The items will be considered by the full Board of Supervisors for final approval of the ballot language and placement. Any specific procurement or program rules would return to the board as implementation details are developed.

Quotes: “I commend this item to you and look forward to moving it to the full board,” President Peskin said during the meeting. Alaina Engel said proponents want a firm commitment on decarbonization rather than language that only “could” or “should” take actions.

What remains unresolved: the committee heard advocacy for explicit decarbonization requirements in preservation work but took no substantive change to the bond language at the hearing; any such additions would need to be addressed as the measure moves through the full board and into ballot drafting stages.