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Watch Mayor Newsom's latest video update on Youtube about the most relevant issues in
San Francisco. In this segment the Mayor Newsom talks about the City's projected budget woes and the future of Treasure Island.
12/17/09 – Mayor Gavin Newsom and Treasurer José Cisneros today
announced the launch of Payday Plus SF, an alternative payday loan
offered by six San Francisco Credit Unions that will provide
responsible small dollar loans of up to $500, with low interest rates,
financial counseling, and an extended repayment term. The program is
designed to help San Franciscans avoid high-interest rate payday loans
that often trap borrowers in a cycle of debt.
For-profit payday lenders may charge annual interest rates of over 400%, and the industry relies for 90 percent of their revenue on borrowers who repeatedly renew or re-open their payday loans. As a result, the typical borrower usually pays around $500 in interest for a $300 loan, and still owes the principal, according to the Center for Responsible Lending. Read more
12/16/09 – Secretary of the Navy Ray Mabus and San Francisco Mayor
Gavin Newsom announced today that they had reached a broad outline of
terms for the conveyance of former Naval Station Treasure Island from
the Navy to the City’s Treasure Island Development Authority. The terms
of the agreement include a guaranteed payment to the Navy of $55M
followed by an interim payment of another $50M, plus an additional
share of potential further profits. The agreement also requires the
inclusion of transactional protections customary in the private sector
for these types of transactions. Specifics of the deal will be worked
out as quickly as possible. Read more
12/16/09 - The San Francisco Department of Public Health is holding an H1N1 Swine Flu Mass Vaccination Clinic open to San Francisco residents who fall into high-risk priority groups.