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Committee advances plan to repurpose unspent seismic-bond funds for affordable housing loans
Summary
The committee approved technical amendments and forwarded an ordinance to implement Proposition C (2016) that repurposes unspent Proposition A (1992) seismic‑safety bond capacity to create a Seismic Safety Retrofit and Affordable Housing Loan Program with separate below‑market and market‑rate pools.
The Rules Committee on Oct. 17 approved city-attorney technical amendments and recommended that the Board consider an ordinance to implement Proposition C (passed by voters Nov. 8, 2016) by repurposing unspent Seismic Safety Loan Program bond capacity created by Proposition A (1992).
Kate Hartley, director of the Mayor’s Office of Housing and Community Development (MOHCD), introduced the Seismic Safety Retrofit and Affordable Housing Loan Program. Amy Chan and Jonah Lee…
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