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City staff warn of billions‑dollar annual funding gap to meet upcoming RHNA affordable‑housing goals
Summary
Planning and housing officials told the committee San Francisco faces an annual local funding shortfall in the range of $1.3 billion (rising later this decade) to meet new RHNA targets; volatile state/federal allocations and dips in local fee revenue were cited as drivers. Officials urged creative local tools and stronger advocacy for state scoring changes.
San Francisco — City planning and housing officials told the Government Audit and Oversight Committee that the local funding needed to meet new regional housing needs assessment (RHNA) targets will be far larger than existing revenue streams can support, placing unprecedented pressure on municipal, state and federal funding systems.
Maya Small of the Planning Department summarized changes to the city’s housing element and the scale of new unit goals, noting the next RHNA cycle will nearly triple prior targets. Lydia Ealy of the Mayor’s Office of Housing and Community Development (MOHCD) described funding mechanics for affordable multifamily development: federal Low Income Housing Tax Credits, tax-exempt private activity bonds and state…
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