Housing Bonds Update: San Francisco Allocates Funds for 2015 to 2020 Projects

San Francisco's commitment to affordable housing and public health received a significant boost during the recent government meeting, where updates on various bond programs were presented. The meeting highlighted the progress of the 2015, 2016, and 2019 affordable housing General Obligation (GO) bond programs, as well as the 2020 Health and Recovery bond initiatives.

The 2015 bond program is nearing completion, with recommendations to track its final closeout. The 2016 bond, aimed at affordable housing preservation, has issued approximately $212.8 million of its $260.6 million authorization, with 82% of the funds already allocated to projects. The 2019 bond, with a total authorization of $600 million, has similarly issued around $491 million, indicating robust spending and commitment to housing initiatives.

Stacy Bradley, the Capital and Planning Director at the Recreation and Parks Department, provided an overview of the 2020 Health and Recovery bond. This bond, which focuses on homelessness and supportive housing, has seen two bond sales and is preparing for a third issuance later this year. The total funding allocated to various projects is approximately $73.5 million, with significant investments in public health and recreational facilities across the city.

Key projects discussed included the India Basin development, which has seen its budget increase to $225 million due to rising costs, and the Gene Friend Recreation Center, which is currently under construction. The meeting also addressed the need for additional funding sources to support ongoing projects, particularly in light of increased construction costs.

The Department of Public Health reported on its allocation from the bond, focusing on expanding psychiatric emergency services and developing a step-down facility on Treasure Island. This facility aims to provide stable housing and support for individuals transitioning from residential substance use programs.

The Department of Homelessness and Supportive Housing (HSH) outlined its plans for the bond's allocation, emphasizing the acquisition and rehabilitation of permanent supportive housing units. With a total allocation of $147 million, HSH has already issued $30.1 million and plans to utilize the next issuance to further expand housing options for vulnerable populations.

Overall, the meeting underscored San Francisco's ongoing efforts to address housing and health challenges through strategic funding and project implementation. As the city moves forward, these initiatives are expected to significantly enhance community resources and support for residents in need.