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Supervisors weigh reserve vs. rapid release for $21M OEWD community investment
Summary
Board members debated whether to place $21 million recommended for community-led investments on Budget & Finance Committee reserve. Supporters said reserves give oversight; opponents, led by Supervisor Walton, warned reserves could slow funds meant for Black community reinvestment.
The Board of Supervisors' economic and workforce development funding — a $21 million pool intended for community-led reinvestment to support Black San Franciscans — prompted a sharp exchange on Aug. 20 over whether the funds should be placed in budget reserve or released quickly for community priorities.
OEWD Director Joaquin Torres told the committee the $21 million was designed to support a community-led allocation process guided by the Human Rights Commission and the mayor's office. "The purpose of that is to provide the…
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