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Committee backs $100,000 assessment of SoMa Community Stabilization Fund ahead of $45 million in future fees
Summary
The committee recommended that MOHCD spend $100,000 from the Soma Community Stabilization Fund to commission a strategic assessment of the fund’s past investments and performance before accepting an anticipated $45 million in Central SoMa impact fees. Callers and prospective assessment team members voiced support.
The Budget and Finance Committee voted to forward a resolution authorizing the Mayor’s Office of Housing and Community Development to expand the SoMa Community Stabilization Fund by $100,000 to coordinate a strategic assessment of the fund’s performance.
Claudine Del Rosario of MOHCD said the fund was created in February 2005 and subsequently funded through developer…
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