Committee moves $19 million tax‑exempt issuance for Town School for Boys despite objection about notice and gender discrimination

The Government Audit and Oversight Committee recommended that the Board of Supervisors proceed with issuance of tax‑exempt obligations for the Town School for Boys not to exceed $19,000,000.

Anthony Ababon of the Office of Public Finance told the committee the resolution acknowledges a duly noticed public hearing and allows the issuance to proceed on a tax‑exempt basis; he stated there is no fiscal impact to the city because no city funds will be used to finance the project.

During public comment, Nancy Cross said she had attempted to review notice materials and expressed concern that advertising in a paid paper is insufficient public outreach; she also stated the project raised gender‑discrimination questions because the beneficiary is a private boys’ school with no comparable program for girls and asked that the matter go before the full Board for public input. The chair allowed the comment and later offered the city attorney an opportunity to respond.

Deputy City Attorney Ken Rhee told the committee that the Internal Revenue Code’s implementing regulations require publication in a newspaper of general circulation to satisfy notice requirements, and that the Chronicle or Examiner have been used historically. He reiterated that no city monies would be spent and that the city is only allowing its tax‑exemption to be used for bond issuance.

The committee voted to move the resolution forward and the chair noted that Nancy Cross’s objection was on the record.