Supervisors approve certificates of participation; Preston presses city on delayed $20 million for life‑safety housing repairs

The San Francisco Board of Supervisors approved three ordinances on first reading authorizing certificates of participation (COPs) and related financing measures on Tuesday, measures the city says will provide capital for multiple infrastructure and affordable‑housing projects.

The measures — described to the board as roughly $275 million of refunding certificates of participation and an additional roughly $146.8 million in new certificates to finance and refinance capital improvement and affordable housing projects — were taken together and passed on first reading after a hearing in which Supervisor Matt Preston urged faster release of a $20 million life‑safety fund intended for repairs in public housing and HUD‑subsidized buildings.

Why it matters: The financing package funds a mix of capital projects and affordable housing initiatives that the mayor and board negotiated last year. Preston said the COPs transaction is a necessary step to unlock previously agreed program dollars but warned that one critical component — the $20 million earmarked for emergency life‑safety repairs — had not yet been distributed nearly a year after the board and mayor approved the overall package.

Preston said the August 2022 agreement included a $112 million affordable housing budget package with specific line items: $40 million for land acquisition to develop 100% affordable housing, $20 million for life‑safety repairs to public housing and HUD‑subsidized co‑ops, $12 million for affordable educator housing, and $10 million for elevator repairs at single‑room occupancy buildings. “To be clear, these are funds for emergency life safety repairs,” Preston told the board, and he said the continued delay was “unacceptable” for residents living in unsafe conditions.

Preston thanked the mayor’s office, the controller, the city attorney and other staff for progress on other elements — including issuance of notices of funding availability for site acquisition and educator housing — and said he welcomed a commitment from the Department of Homelessness and Supportive Housing (HSH) to issue a notice of funding availability for elevator repairs in SROs by summer. But he said the mayor’s Office of Community Development (MOCD) had not provided a timeline for when the $20 million would be “out the door.”

Board action: The three COP‑related ordinances were passed on first reading. The board took no additional vote on distribution timing; Preston said his office will continue to press the mayor’s office and department staff to provide a clear timeline for the release of the life‑safety funds.

What participants said: - Supervisor Matt Preston, first reference: Supervisor Matt Preston said the board and mayor agreed in June 2022 on a $112 million package and noted that the $20 million for life‑safety repairs had not been disbursed nearly a year later. “To be clear, these are funds for emergency life safety repairs,” he said. - Preston also thanked staff across multiple offices for progress on other funding lines and said he would continue to advocate to get the life‑safety funds released.

Next steps: The ordinances advanced on first reading; further procedural steps remain before the financing is finalized. Preston said he will continue to seek a public timeline for when the $20 million in life‑safety funds will be made available and requested follow‑through from MOCD and the mayor’s office.

Clarifying details: The board described item amounts on the record as approximately $275,000,000 (refunding certificates) and $146,800,000 (new certificates). The $112,000,000 housing package Preston described was the negotiated package referenced by the board; specific subamounts cited by Preston were $40,000,000 (site acquisition), $20,000,000 (life‑safety repairs), $12,000,000 (educator housing), and $10,000,000 (SRO elevator repairs). The timing for release of the $20,000,000 for life‑safety repairs was described as “not specified” by MOCD during committee hearings, per Preston’s remarks.

Proper names: MOCD (Mayor’s Office of Community Development); HSH (Department of Homelessness and Supportive Housing); Comptroller Ben Rosenfield; City Attorney Mark Blake; Paraphrased board records and staff were referenced in discussion.

Ending: Board members said they supported the financing package and emphasized the administration’s responsibility to provide an explicit timetable for disbursing the life‑safety funds to address unsafe conditions in public housing.