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Supervisors move to allocate Prop I revenues for rent relief and social housing; amendment to reflect higher projections
Summary
The committee accepted a supplemental appropriation to allocate estimated Prop I transfer‑tax revenues split between COVID rent relief and a new Housing Stability Fund for permanently affordable social housing. Supervisor Preston asked that figures be increased to reflect the Controller's updated revenue projection; committee agreed to refer amended item to Budget & Appropriations for March 17.
The committee considered a supplemental ordinance to appropriate Prop I transfer‑tax revenue for two purposes: (1) a COVID rent‑relief program (the Rent Resolution and Relief Fund) and (2) a new Housing Stability Fund to acquire or create permanently affordable social housing.
Supervisor Dean Preston said the item implements the Board’s earlier unanimous intent and the voters’…
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