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Budget committee delays vote on bond appropriations; asks MOHCD for neighborhood-level spending chart
Summary
Committee continued an ordinance appropriating three bond issuances (totaling roughly $489.5M) to allow the Mayor’s Office of Housing and Community Development to provide neighborhood-level spending data and address geographic equity concerns. The committee voted 3-0 to continue the item.
The Budget & Finance Committee on Oct. 28 continued an ordinance that would appropriate proceeds from three general obligation bond issuances — a 2016 public health and safety bond (up to $126,900,000), the first issuance of the 2019 affordable housing bond (up to $260,000,000) and a preservation and seismic-safety affordable housing issuance (up to $102,600,000) — and place the funds on the Controller’s reserve pending sale transactions.
Marissa Peritelli of the Office of Public Finance told the committee the sale resolutions had already been approved and that the ordinance would appropriate proceeds into department accounts once bonds are sold. "This ordinance appropriates the final issuance of the 2016 public health and safety bond in a not to exceed amount of 126,900,000," Peritelli said, and described the other issuances and anticipated pricing timelines.
Supervisors raised concerns about geographic equity in how affordable-housing bond dollars are spent. Jonah Lee from the Mayor’s Office of Housing and Community Development (MOHCD) said geographic equity is a core priority and described efforts to strengthen sponsor capacity and small-sites grants to reach neighborhoods outside core service areas. Supervisor Rafael Mandeman asked for a clear chart showing where affordable-housing dollars have been invested by neighborhood so the committee can assess whether investments are balanced across districts.
Deputy City Attorney Anne Pearson told the committee the ordinance combined multiple appropriations into a single ordinance and said the committee could not split the item to advance non-housing pieces while holding back housing appropriations. Chair Sandra Lee Feuer proposed continuing the entire item so MOHCD could provide neighborhood-level data and additional analysis. The committee voted to continue the item to a future Budget & Finance meeting; the roll-call vote was Walton: Aye; Mandeman: Aye; Feuer: Aye.
Committee members asked staff to bring a chart of neighborhood- and district-level allocations and to provide additional explanation of sponsor capacity work before the item returns for action.
