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Supervisors approve $4.5 million supplement to help nonprofits facing rising commercial rents
Summary
The San Francisco Board of Supervisors voted unanimously March 18 to appropriate roughly $4.5 million from the general fund reserve to help nonprofit organizations facing rising commercial rents, placing the money on the board's reserve pending a working-group report.
The San Francisco Board of Supervisors voted unanimously March 18 to appropriate roughly $4.5 million from the city's general fund reserve to support nonprofit organizations affected by rising commercial rents, placing the funds on the Board of Supervisors reserve pending recommendations from a nonprofit displacement working group.
President David Chu and Supervisor Jane Kim, sponsors of the measure, said the money will be directed to the Mayor's Office of Housing and Community Development (MOHCD) and the San Francisco Arts Commission to implement programmatic recommendations from a working group convened to study nonprofit displacement. "This supplemental is one piece of a larger collaborative effort to address the needs to protect non profit organizations that provide vital services to our residents," President Chu said.
Why it matters: Supervisors said immediate funding is needed to provide bridge grants, technical…
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