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Committee continues $4.5M nonprofit rent‑stabilization ordinance to allow program details to be developed
Summary
The committee continued an ordinance that would appropriate approximately $4.5 million to a proposed Nonprofit Rent Stabilization program to give supervisors time to define program parameters; public commenters urged seeing program details before funds are allocated.
The Budget & Finance Committee on Feb. 26 continued for further work an ordinance to appropriate roughly $4.5 million from the General Fund reserve to the Mayor’s Office of Housing to establish a Nonprofit Rent Stabilization program.
Clerk staff described the ordinance as an appropriation to establish the program and place the funds on the committee reserve pending a report from the Nonprofit Displacement Work Group to the Board. Several supervisors said they want to refine program parameters before committing funds; Supervisor Mark Farrell indicated the item would likely return in mid‑March to the call of the chair. A motion to continue the ordinance carried without opposition, and the committee added Supervisor Mar (as transcribed) as a co‑sponsor for later discussion.
Public commenters, including a District 5 resident, urged the committee to publish the program’s parameters before allocating the funds, calling it unclear to fund a not‑yet‑defined program. The clerk closed public comment after two minutes per speaker and the committee moved the item to a future meeting to allow staff time to develop proposed program details and bring them back to the Board for review.
