Rules Committee advances charter measure creating Housing Opportunity Fund for extremely low‑income seniors, families and people with disabilities

President of the Board Supervisor Aaron Peskin introduced amended language to a charter measure establishing an Affordable Housing Opportunity Fund intended to provide project‑based rent subsidies for extremely low‑income (ELI) seniors, families and people with disabilities and asked the Rules Committee to advance the proposal for the November ballot.

Peskin said the amended draft clarifies definitions and program rules and adds reporting and fiscal guardrails. He told the committee the measure would “require the city to appropriate at least $8,250,000 to the fund annually starting in 2627” and that the Controller would file an annual report identifying non‑general fund sources that might be appropriate for the program. He also said a portion of the funding is “intent[ed] to come from the empty homes tax, the homelessness gross receipts tax” (transcript). The proposal adds a 20% cap on use of the fund for subsidizing existing permanent affordable housing and sets reporting deadlines for the mayor’s office of housing.

Advocates and service providers filled the public comment period. A representative from Self Help for the Elderly described intense demand for a new senior‑focused project and estimated “5 to 10,000 seniors will apply” for one Richmond District development when it opened (public comment). Multiple speakers from tenant groups, Senior and Disability Action, community development corporations and nonprofit housing developers urged the supervisors to place the measure on the ballot, saying current affordable housing rules exclude many ELI households and that an ongoing local subsidy would allow preservation and creation of truly deep‑affordability units.

Committee members acknowledged concerns about charter set‑asides tying future budgets but said a ballot measure provides a durable local funding stream for populations that often fall through the current system’s eligibility rules. Supervisor Asha Safai thanked advocates and asked clarifying questions about the annual appropriation language and the limited circumstances when the floor could be reduced during a fiscal emergency.

Chair Supervisor Hillary Ronan moved to adopt the amendments described by President Peskin and to continue the item for final committee vote on July 15. The Rules Committee voted to amend and continue the matter without objection.

Next steps: The item was continued to the July 15 Rules Committee meeting as a committee report; if approved, the measure would go before voters on the November 5, 2024 ballot.