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Board unanimously backs plan to put $600 million housing bond on November ballot
Summary
The San Francisco Board of Supervisors voted unanimously on July 9 to advance a $600 million general-obligation bond to the November 2019 ballot to finance affordable and supportive housing, including $150 million aimed at seniors and set-asides for educators and cooperative living for people with mental illness.
The San Francisco Board of Supervisors voted unanimously on July 9 to place a $600 million general-obligation bond before voters this November to fund construction, seismic upgrades and preservation of affordable housing across the city.
The measure, advanced on first reading by the board, would increase prior proposals and is intended to finance roughly 2,800 units of affordable housing and preservation work, with set-asides for seniors, educator housing and supportive and extremely low-income units. President Norman Yee, announcing the package at the dais, said the bond grew from an earlier $300 million proposal after discussions with the mayor and community partners.
Why it matters: Supervisors described the bond as a major infusion of capital to address long-running shortages of affordable housing in many neighborhoods. Advocates and board members said the package combines preservation of…
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