Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Supervisors reserve $4.515 million for nonprofit rent‑stabilization program pending working group report
Summary
The committee moved a $4.515 million general‑fund supplemental to Budget & Finance Committee reserve to support nonprofit rent stabilization and arts organizations facing displacement; supervisors emphasized technical assistance, a possible CAST model and the need for equitable allocation pending an April working‑group report.
The Budget & Finance Subcommittee voted to forward an ordinance that would appropriate approximately $4.5 million from the General Fund Reserve to the Mayor’s Office of Housing for a nonprofit rent‑stabilization program, placing the funds on committee reserve pending the Nonprofit Displacement Working Group’s recommendations.
President Chu, the item’s sponsor, said the supplemental would be funded from increased property tax revenues in the Mid‑Market tax exclusion zone and proposed allocating $2 million specifically to the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
