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Rules Committee forwards charter amendment to create San Francisco Housing Trust Fund to full Board
Summary
The Rules Committee voted to send a charter amendment to the full Board that would create a San Francisco Housing Trust Fund, set aside general fund revenue for affordable housing and authorize up to 30,000 affordable rental units; the committee forwarded the item with no recommendation after discussion of exemptions and funding interactions.
The San Francisco Rules Committee on July 16 voted to forward a charter amendment to the full Board of Supervisors that would create a San Francisco Housing Trust Fund to finance creation, acquisition and rehabilitation of affordable housing, support affordable homeownership programs and offset regulatory impacts on private residential projects.
Chair Jane Kim called the item forward after noting amendments discussed at the prior Rules meeting. The charter amendment as introduced directs dedicated general fund revenue for the new trust fund and authorizes developments of up to 30,000 affordable rental units in the City.
Why it matters: supporters and housing advocates told the committee the measure would provide a permanent funding source to preserve economic and racial diversity in San Francisco. Several labor and housing groups, including Community Housing Partnership, SPUR, the…
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