San Francisco County officials have proposed a budget of $712 million for the upcoming fiscal year, marking a net reduction of $1.6 million aimed at addressing a significant budget gap of $780 million. A substantial portion of this budget—approximately 90%—is earmarked for critical community needs, including affordable housing, parks, and infrastructure improvements.

The budget allocates $330 million specifically for affordable housing initiatives, which will be supported through funding loans and bond financing. Additionally, $178 million is designated for parks and infrastructure enhancements, while $146 million is set aside for debt service related to bonds issued for these projects. The county plans to issue a $75 million bond in the coming fiscal year to further support affordable housing and park programs in the Transbay area.

In terms of housing development, the county has reported that around 2,700 units have been completed and occupied, with a pipeline of approximately 7,100 units of affordable housing planned. The only park expected to be delivered in the 2023-2024 period will be Bayfront Park, located adjacent to the Warriors Arena.

Economic development remains a key focus, with the county aiming for 50% of contracts to be awarded to small businesses and local hiring initiatives. Since the establishment of the Office of Contracting and Infrastructure (OCI) in 2012, nearly $6 billion in contracts have been administered, benefiting local small business enterprises, including a significant portion awarded to women and minority-owned businesses.

The meeting also addressed staffing challenges, particularly those exacerbated by the COVID-19 pandemic. The county has begun hiring to fill vacancies, with plans to add more staff as projects ramp up. The budget reflects a commitment to reducing spending while still prioritizing essential services and community development.

As San Francisco County moves forward with this budget proposal, the focus remains on enhancing the quality of life for residents through strategic investments in housing, parks, and local economic growth.