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Committee backs charter amendment to dedicate one-third of surplus to affordable housing with 15-year sunset
Summary
Supervisors forwarded a charter amendment that would dedicate 33% of an identified year‑end surplus to affordable housing and require annual affordable‑housing planning, with a 15‑year sunset; supporters said it offers a long‑term funding stream, while critics raised priority and distribution questions.
The Rules Committee voted July 1 to forward a charter amendment to the full Board that would create a dedicated mechanism to fund affordable housing. Introduced by Supervisor Chris Daly, the measure instructs the Controller to identify year‑end surpluses and program one‑third (33%) of that surplus for affordable‑housing purposes, sets baseline appropriation language, requires an annual affordable‑housing plan and budget from the mayor’s housing office,…
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