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Committee forwards $220 million ERAF package to full Board for housing, educators and behavioral health
Summary
The Board’s Budget and Finance Committee advanced an ordinance allocating roughly $220 million in excess ERAF property taxes plus rainy-day funds to affordable housing, homelessness and educator pay, forwarding the item to the full Board with a positive committee recommendation.
The Budget and Finance Committee voted to forward to the full Board an ordinance that would appropriate approximately $220 million in excess Educational Revenue Augmentation Fund (ERAF) property taxes, $52 million in one-time rainy-day reserve funds, and $10 million from SFPUC revenue bond proceeds toward a package of affordable housing, homelessness and behavioral health acquisition and renovation, early care and K–12…
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