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Oversight board proposes $136M Prop I package for social housing; committee continues item
Summary
The Housing Stability Fund Oversight Board presented unanimous recommendations to spend approximately $136 million in Prop I revenues on land acquisition, educator housing, preservation, SRO elevator/accessibility upgrades, staffing and innovation; the committee continued the item to the call of the chair for further coordination with the mayor’s office.
The Budget & Appropriations Committee on May 4 heard the Housing Stability Fund Oversight Board’s recommendations for spending Proposition I revenues and agreed to continue the item for further coordination with the mayor’s office.
Supervisor Dean Preston, sponsor of the item, said Prop I (November 2020) is projected to raise about $170,000,000 per year and described the oversight board’s unanimous recommendations for allocating the portion earmarked for social housing. Vice chair Fernando Marti outlined the board’s $136,000,000 package, which…
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