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LAFCO agrees to agendize municipal bank scope after commissioners highlight affordable housing potential
Summary
Commissioner Hillary Ronan asked staff to prepare a presentation on the municipal bank task force and how LAFCO might add value, citing the bank as a potential source of financing for affordable housing; Chair Feuer agreed to place the item on a future agenda.
During the May 2 special meeting, Commissioner Hillary Ronan asked the San Francisco Local Agency Formation Commission to agendize a presentation outlining the scope of work performed by the city’s municipal bank task force and options for how LAFCO could add value to that effort.
Ronan said she was "excited" about the idea of a municipal bank and flagged one key potential benefit: a new source of financing for affordable housing. She urged staff to prepare a refined scope of work for the commission so LAFCO could consider what the body would and would not do and avoid duplicating other city efforts. Chair Sandra Lee Feuer agreed to agendize the municipal bank scope presentation for the commission’s next meeting.
Another commissioner voiced support for exploring how a municipal bank could be used to provide "deeply affordable housing," and the discussion closed with the item set for a future agenda. The commission did not take formal action on the municipal bank at this meeting; the request was to place the topic on an upcoming agenda for further presentation and discussion.
