Committee recommends two Housing Stability Fund Oversight Board nominees to full board

The Rules Committee on Jan. 31 sent two nominees for the Housing Stability Fund Oversight Board to the full Board of Supervisors with positive recommendations.

Supervisor Preston, who authored the Housing Stability Fund ordinance (Prop I, passed by voters in November 2020), described the fund’s purpose as creating a dedicated revenue stream for permanently affordable social housing strategies — including small‑site acquisitions, community land trusts and limited‑equity cooperatives. He said the oversight board will provide recommendations to the Mayor’s Office of Housing and Community Development and the board of supervisors for budgeting and allocations.

The committee heard from two nominees. Saki Bailey, executive director of the San Francisco Community Land Trust, detailed her nonprofit housing development experience, the CLT’s portfolio of permanently affordable properties and work on shared‑equity models. Annabelle Ibanez (recorded as Annabelle Ybanez/Ibanez in the packet), political director at United Educators of San Francisco, described her labor leadership and community organizing experience and the perspective she would bring to the labor‑seat reserved on the board.

Supervisor Preston noted that the oversight board had recommended allocating $64 million in Prop I proceeds toward housing acquisition in the recent fiscal year and that the two appointments would help constitute a women‑led majority on the board. The committee voted to recommend both appointments to the full board and to grant a residency waiver for Ms. Bailey.