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Supervisors hold hearing on soaring commercial rents as dozens of nonprofits warn services are at risk
Summary
The committee heard an extensive report and public testimony on rapid commercial rent increases in SoMa and other neighborhoods and how rising rents threaten nonprofit stability and the safety‑net. The Budget & Legislative Analyst recommended a range of short‑ and long‑term options; Supervisor Jane Kim proposed convening a work group to develop a portfolio of solutions.
Supervisor Jane Kim convened a lengthy hearing on Oct. 9 to examine how rapid commercial rent increases and early lease terminations are affecting nonprofit organizations and the services they provide. The Budget & Legislative Analyst (BLA) summarized data showing sharp decreases in commercial vacancy rates and double‑digit rent increases in South of Market between 2011 and 2013, with Class C buildings experiencing steep percentage increases that disproportionately affect lower‑cost nonprofit tenants.
BLA staff surveyed local nonprofits and reported responses from roughly 90 organizations. The average annual rent reported was $224,738—about 4.6% of the average nonprofit’s budget—and organizations that entered new…
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