Housing Funding: Mayor Creates Housing Trust Fund Working Group
Mayor Edwin M. Lee today announced the creation of the Housing Trust Fund Working Group. The broad working group is tasked with designing a ballot measure that would create a permanent source of revenue to fund the creation of housing that is affordable to low income, moderate income and middle-class households in San Francisco. Mayor Lee will work with the Board of Supervisors and the community to develop a measure for the November 2012 Ballot.
"If we can come together to tackle tough issues like pension reform, we can surely work together to create a permanent source of revenue to fund the production of housing in San Francisco at every level of the economic spectrum," said Mayor Lee. "Affordable and middle class housing are critical to the economic diversity and economic vitality of our City. With the elimination of affordable housing and a nearly 50 percent decrease in federal affordable housing funds this year alone, we must innovate locally to ensure San Francisco remains a place that everyone can call home." Read more.