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Budget committee increases 2024 bond authorizations for housing and public health, approves amendment 3-2 and continues item
Summary
The Board's Budget and Appropriations Committee voted 3-2 to amend the city's 10-year capital plan, increasing the proposed affordable housing and shelter bond to $340 million and the public health and shelter bond to $320 million, and continued the item one week for further work and compliance checks.
The Budget and Appropriations Committee on April 26 voted 3-2 to amend the city's 10-year capital plan to increase 2024 general obligation bond authorizations for affordable housing and public health and continued the item to the May 3 committee meeting for further detail and legal review.
President Aaron Peskin said new property tax information created about $150 million in additional 2024 bond capacity and proposed allocating $140 million of that to an affordable housing and shelter bond and $10 million to a public health and shelter bond. "For 2024 there's an additional $150,000,000 of capacity," Peskin said, proposing the housing bond increase to $340,000,000 and the public health bond increase to $320,000,000.
Peskin and staff also referenced an estimate from the Department of Public Health that flipping the bond schedule could add "approximately $9,900,000 of additional cost" from an…
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