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Rules Committee backs extension for Reinvestment Working Group as draft public‑bank plans arrive
Summary
The Rules Committee voted Feb. 13 to send an ordinance to the full Board extending the Reinvestment Working Group’s deadlines after city consultants delivered draft business and governance plans for a municipal public bank and a non‑depository municipal financial corporation (MFC). Supporters said more time will allow community feedback; presenters estimated $20M–$50M capitalization scenarios.
The Rules Committee of the San Francisco Board of Supervisors on Feb. 13 voted to send to the full Board an ordinance extending the Reinvestment Working Group’s deadline to complete business and governance plans for a municipal public bank and a non‑depository municipal financial corporation. Chair Supervisor Matt Dorsey moved the recommendation, which passed without objection.
Supervisor Dean Preston, the sponsor, said the extension will allow the working group to finalize plans that were delivered to members on the previous Friday. "We are very excited with some of the…
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