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Committee backs HRC-led forgivable loan program for first‑time buyers, Peskin dissents
Summary
The Land Use & Transportation Committee voted 2–1 to send an ordinance to the full Board establishing a forgivable‑loan program for low-, moderate- and middle‑income first‑time homebuyers and charging the Human Rights Commission with program oversight; members questioned funding sources and HRC capacity.
The San Francisco Board of Supervisors’ Land Use & Transportation Committee voted 2–1 on Feb. 26 to recommend to the full Board an ordinance to establish a forgivable‑loan program and fund for first‑time homebuyers and to charge the Human Rights Commission with administering and overseeing it.
Sponsor Supervisor Mirna Melgar told the committee the program is intended to provide down‑payment assistance to communities “harmed through targeted economic disruption, displacement, and manufactured barriers” and to help restore paths to intergenerational wealth. Melgar cited prior attempts to fund down‑payment assistance, including a $10 million…
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