Rules Committee forwards charter amendment to create San Francisco Housing Trust Fund to full Board

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 Council of Community Housing Organizations and building trades unions, urged the committee to move the measure to the ballot and stressed the need for reliable, long-term revenue to keep people in the city.

What was discussed: Supervisor Mark Farrell moved to forward the amendment to the full Board as a committee report with no recommendation. Supervisor Campos said he is “leaning in that direction” but asked staff for clearer, project-level examples of how exemptions would apply before he gave a final recommendation. Campos warned about the potential interaction between the fund and a separate gross receipts revenue measure and said he wanted greater clarity on the amount of revenue at stake.

Staff from the Mayor’s Office of Housing, represented by Dan Adams, outlined the charter exemptions: “First, any project that's under a development agreement would have separate requirements negotiated through that agreement.” Adams also said projects in redevelopment areas or infrastructure finance districts and those receiving state financing (for example, under the state density bonus statute or via CDLAC financing) would be exempt. He described planning-area exemptions tied to zoning changes affecting an area of 40 acres or more and noted project-level thresholds such as a 20% increase in developable floor area or a 50% increase in density that could trigger an exemption.

Public testimony: more than a dozen speakers supported the measure. Riley Nixon, who said he had been homeless in San Francisco for about 15 years and now lives in housing operated by Community Housing Partnership, urged the supervisors to approve the trust fund because “there's so many people out there laying in the street.” Sarah Karlinsky of SPUR told the committee that planning’s analysis found most commonly considered area plans exceed the 40-acre threshold and that the provision need not be contiguous land.

Funding and timeline: a coalition speaker said advocates had sought a revenue-neutral approach to the general fund and that the term sheet originally showed a $12 million shortfall over the first ten years; the speaker said the mayor’s revenue measure included $13 million to address that gap. Chair Kim noted that because this is a charter amendment, any changes could require continuance and that July 31 is the last date to submit charter amendments assuming no others are pending.

Outcome and next steps: the committee moved the measure to the full Board as a committee report with no recommendation so supervisors can review outstanding questions, including the exemptions’ practical application and revenue interactions. The full Board will consider the item on the supervisors’ agenda on July 24.