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Committee continues $50M proposal to finance renewables; supervisors press for seismic program safeguards and jobs guarantees
Summary
Supervisors debated a proposal to reallocate up to $50 million of unutilized seismic safety loan bond authority to create a low-interest loan pool for renewable energy and efficiency projects. The committee heard technical testimony from the assessor, mayor's office, industry representatives and advocates, raised questions about robbing seismic safety funds, workforce development, and repayment risk, and continued the item to the call of the chair for further ordinance detail.
The Budget & Finance Committee took up paired items proposing a loan program and related ballot measures to accelerate solar and energy-efficiency installations in San Francisco by using up to $50 million of unutilized general obligation authority from the seismic safety loan program.
Assessor Phil Ting and Nadia Sasse (Mayor's Office of Public Finance) explained the program is meant to complement a local…
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