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Committee authorizes forwarding $35 million in seismic/rehab bond authority after preservationists seek program changes
Summary
The committee voted to forward a resolution authorizing the sale of up to $35 million in taxable general obligation bonds for a seismic/rehabilitation loan program; some supervisors urged placing limits or conditions and preservation advocates pushed to ensure nonprofits and historic properties can access loans.
The Budget & Finance Committee moved to the full Board a resolution authorizing the sale of not to exceed $35,000,000 in taxable general obligation bonds (series 2006A) to replenish a seismic and rehabilitation loan program.
Joel Lipsky of the Mayor—s Office of Housing said the authorization would give the city a line of credit to make loans to retrofit older unreinforced masonry buildings and other structures in…
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