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Supervisor Preston proposes Prop I supplemental allocations and 90‑day eviction-protection extension
Summary
Supervisor Preston introduced a supplemental budget request to allocate $27.5 million from Proposition I revenues—split equally for rent relief and permanently affordable housing—and announced a forthcoming ordinance to extend local no‑fault eviction protections for 90 days with a veto‑proof list of co‑sponsors.
Supervisor Aaron Peskin introduced a supplemental budget request (delivered by Supervisor Preston on the record) to allocate a portion of new revenues generated by Proposition I. The proposal seeks to allocate $27.5 million equally between rent-relief programs for tenants and landlords and a fund dedicated to creating permanently affordable social housing. The supplemental was based in part on the March sale of the former Dropbox headquarters and early controller estimates that Put Prop I revenues will total at least $60 million in the current fiscal year.
Preston also announced intent to introduce a 90‑day extension of the city’s no‑fault residential eviction protections, citing concerns about the expiration of local and state protections and the risk of an “eviction cliff” if protections lapse. Preston said the extension would move quickly and that he had gathered a veto‑proof set of co‑sponsors including the board president and several supervisors.
Preston described the Prop I supplemental as a direct allocation of transfer-tax revenue intended by voters to address rent relief and long-term affordable housing, and urged colleagues to support immediate and ongoing appropriations to meet both near-term anti‑displacement needs and long-term housing creation.
