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Supervisors Hear Community Concerns as Committee Advances TEFRA Bond Review Amendment
Summary
The Budget and Finance Committee opened a hearing on an ordinance to require additional city review and contracting conditions for housing projects financed by TEFRA revenue bonds; the sponsor introduced an amendment of the whole and the item was continued for one week for further community engagement and budget-analyst follow-up.
The Budget and Finance Committee considered an ordinance to add Chapter 43.9 to the San Francisco Administrative Code requiring housing project sponsors who use revenue bonds issued through joint exercise of powers authorities to comply with certain city contracting programs and other conditions. The committee read the ordinance into the record, and the sponsor introduced an amendment of the whole that would add reimbursement language, clarify enforcement, and incorporate budget analyst recommendations.
Supporters and tenants urged more…
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