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San Francisco Housing Stability Board proposes $110M for affordable housing initiatives

May 10, 2023 | San Francisco County, California


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San Francisco Housing Stability Board proposes $110M for affordable housing initiatives
San Francisco County is poised to enhance its housing stability efforts following a significant presentation from the Council of Community Housing Organizations and the Housing Stability Fund Oversight Board during a recent government meeting. The coalition, representing 22 member organizations, outlined a comprehensive plan aimed at addressing the urgent need for affordable housing in the city.

The Housing Stability Fund, established after the passage of Proposition I in 2020, has generated over $250 million to support housing initiatives. The board's annual budget recommendations, shaped by extensive community engagement, emphasize the necessity of scaling resources for affordable housing production. The coalition advocates for the construction of 46,000 new affordable units over the next eight years, a substantial increase from previous targets.

Key budget proposals include a $30 million allocation for land acquisition to develop affordable housing, particularly for public sector and essential workers. This funding aims to capitalize on current low land costs and ensure equitable access to housing across various neighborhoods. Additionally, another $30 million is requested for capital funding to support the construction of affordable housing specifically for essential workers, including educators and healthcare professionals.

The coalition also highlighted the need for $18 million in building upgrades and repairs across existing housing, addressing urgent accessibility and safety concerns. Furthermore, they proposed $5 million to enhance affordability for seniors and individuals with disabilities, alongside $2 million dedicated to housing innovation to explore new models for low-income residents.

These recommendations reflect a concerted effort to tackle the housing crisis in San Francisco, ensuring that vulnerable populations have access to stable and affordable living conditions. As the city prepares to implement these proposals, the coalition remains committed to advocating for the needs of its diverse communities, emphasizing that the success of these initiatives will ultimately depend on sustained investment and collaboration among stakeholders.

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