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Planning Commission backs mayor’s inclusionary financing option, 5–1
Summary
The Planning Commission recommended approval of a staff-amended ordinance that creates a new pathway for projects to use CDLAC tax‑exempt bonds and TCAC tax credits by adding 10% more inclusionary units affordable at 80% AMI or below; the motion passed 5–1 with Commissioner Williams opposed.
The San Francisco Planning Commission on Oct. 24 recommended approval of a mayor‑sponsored amendment intended to expand the pool of projects eligible for state and federal affordable‑housing subsidies. The measure would allow project applicants to qualify for California Debt Limit Allocation Committee (CDLAC) tax‑exempt bonds and California Tax Credit Allocation Committee (TCAC) tax credits if they provide 10% more inclusionary units than their current local obligation and make those additional units affordable to households at 80% or less of area median income (AMI).
In a staff presentation, Aaron Starr and William Wilcox of the Mayor’s Office of Housing and Community Development said the change is designed to make these financing tools usable by more developments without changing the city’s required inclusionary percentages or AMI levels. Wilcox, the city’s bond program manager, said San Francisco projects typically score well in statewide bond competitions because of the depth of affordability in city‑supported developments and that staff would work to prioritize 100% affordable projects in the CDLAC process. He also noted the bond pool is allocated statewide and competitive.
John Avalos of the Council of Community Housing Organizations testified in opposition during public comment, saying the exception could let market‑rate developers secure scarce public subsidies and intensify competition for limited funds. Wilcox answered that staff expects 100% affordable projects to remain competitive and that the department would coordinate timing and prioritization to protect city‑supported deeply affordable projects.
After questions and a technical clarification requested by staff (explicitly referencing planning code sections that govern interim inclusionary rates), Commissioner Braun moved to recommend approval with staff modifications. The motion carried 5–1 on a roll call vote, with Commissioner Williams voting nay.
The Planning Commission’s recommendation goes next to the Board of Supervisors and City departments for further consideration.
