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At-a-glance: Board adopts port refunding COPs, tax exemptions, housing grants and multiple contracts on Jan. 28
Summary
On Jan. 28 the San Francisco Board of Supervisors approved a package of ordinances and resolutions: refunding certificates of participation for Port projects, a temporary commercial vacancy tax exemption for long construction projects, a $21.5 million amended grant for rapid rehousing and multiple multi-year agreements for youth services, among other measures.
At its Jan. 28 meeting the San Francisco Board of Supervisors approved a series of ordinances and resolutions as part of consent and new-business items. Most items were adopted "same house, same call" and recorded on the public record. Key actions and outcomes are listed below.
- Items 10 and 11: Ordinances authorizing the issuance of refunding Certificates of Participation (COPs) for the Port of San Francisco and appropriations related to prior reserve proceeds. The legislation authorizes refunding COPs with aggregate principal amounts described on the agenda and places sale proceeds on the controller's reserve pending the sale. These ordinances were taken together and passed on first reading. (Agenda call: 695.695'815.395).
- Item 12: An amendment to the Business and Tax Regulations Code to exempt certain taxable commercial spaces from the commercial vacancy tax when located in named neighborhood commercial or transit districts affected by city public infrastructure or long-running construction projects. The ordinance, which requires an affirmative vote of eight supervisors under Article 29 (as stated at the hearing), passed on first…
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