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Committee backs tax-exempt bonds to finish Chinatown YMCA community center
Summary
A committee advanced a resolution supporting up to about $8.5 million in tax-exempt revenue bonds toward the Chinatown YMCA project, part of a larger $23 million budget; the resolution will be forwarded to the full board as a committee report.
The committee advanced a resolution to authorize tax-exempt revenue bonds, earmarking approximately $8.5 million of a roughly $23 million project budget to help complete the Chinatown YMCA community center.
Judson True, of Supervisor David Chu’s office, told the committee the bonds would “help move the project forward and complete the financing of it.” True said the project is under construction and that the bond authorization is intended to close remaining financing gaps.
The resolution would allow the California Municipal Finance Authority to issue and sell the bonds to finance community center facilities owned and operated by the Young Men’s Christian Association of San Francisco. The committee opened the item for public comment and, seeing none, moved the item with a motion and second; members approved forwarding it as a committee report without objection.
No detailed vote tally was recorded in the committee transcript. The committee did not record public opposition or speaker testimony against the bond issuance at the hearing. The item will appear on the July 13 board of supervisors agenda unless otherwise stated.
