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Budget committee backs four bond sales totaling $489.5 million, forwards measures to full Board
Summary
The Budget and Finance Committee unanimously recommended that the Board of Supervisors consider four bond-sale resolutions totaling $489.5 million to fund affordable-housing, preservation/seismic-safety and public-health projects, after staff presented uses, debt-service estimates and homeowner tax impacts.
SAN FRANCISCO — The Board of Supervisors’ Budget and Finance Committee voted unanimously on Oct. 6 to forward four bond-sale resolutions to the full board, recommending issuance of a combined $489.5 million in debt to finance affordable-housing construction and preservation, seismic safety renovations and public-health and safety projects.
Chair Sandra Lee Fewer moved the committee report recommending approval of items 1–4, and the committee recorded three ayes. The measures now go to the full Board of Supervisors for final action.
City staff and analysts outlined how the proceeds would be used and the likely cost to taxpayers. Jonah Lee, director of portfolio management and preservation, described a proposed “2020 F” issuance of up to $102.6 million for the Preservation and Seismic Safety (PASS) program, saying the funds would finance seismic retrofits, acquisitions and…
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